Marvell Technology (NASDAQ: $MRVL) Shares Ease 2.18% Following Long-Term Financial Targets Unveiled at Investor Day in New York.
Marvell Technology shares slipped 2.18% to $280.75 in Wednesday premarket action, cooling off slightly from Tuesday's 5.81% rally after the chipmaker revealed ambitious long-term financial goals at its New York Investor Day.
Management raised its fiscal 2028 revenue goal to roughly $20 billion and set a long-term fiscal 2031 target of $70 billion to $90 billion. This easily beat previous estimates, with the projected fiscal 2031 midpoint of $80 billion landing well above the $46.85 billion consensus from four analysts polled by Visible Alpha, and the updated 2028 target also topping LSEG's roughly $18.2 billion forecast.
#Crypto
Marvell Technology shares slipped 2.18% to $280.75 in Wednesday premarket action, cooling off slightly from Tuesday's 5.81% rally after the chipmaker revealed ambitious long-term financial goals at its New York Investor Day.
Management raised its fiscal 2028 revenue goal to roughly $20 billion and set a long-term fiscal 2031 target of $70 billion to $90 billion. This easily beat previous estimates, with the projected fiscal 2031 midpoint of $80 billion landing well above the $46.85 billion consensus from four analysts polled by Visible Alpha, and the updated 2028 target also topping LSEG's roughly $18.2 billion forecast.
#Crypto