Marvell Technology Analysts Slash Their Forecasts After Q1 Earnings
1. MRVL reported Q1 earnings of 62 cents per share, surpassing estimates. 2. Quarterly revenue reached $1.895 billion, up 63% year-over-year. 3. Strong AI demand is boosting data center revenue growth. 4. Second quarter revenue forecasted at $2 billion, plus or minus 5%. 5. Analysts adjusted price targets downward following the earnings announcement.