Is Marvell’s stock cheap? This $1 billion move shows the company seems to think so.
1. Marvell's stock fell 30% this year, ranking poorly in the chip sector. 2. Company announces $1 billion accelerated share buyback, indicating undervaluation. 3. Management emphasizes focus on long-term AI growth opportunities. 4. Stock saw 5% increase in morning trading, signal of potential recovery. 5. Concerns linger on competition, notably from Alchip in AI chip space.