Marvell Stock Is Soaring—Here’s Why

Shares of Marvell Technology (MRVL) soared on Wednesday after Morgan Stanley raised its price target on the chipmaker’s stock, citing the “exceptional” strength of AI demand.

Morgan Stanley analyst Joseph Moore on Wednesday raised his Marvell price target by about 10% to $80 while maintaining an “equal weight” rating.

“Marvell is firmly in the AI winners camp, and sentiment has swung aggressively negative compared to a few months ago,” Moore wrote. “We are more excited for their opportunity in optical, which brings higher margin and durability vs. their ASIC opportunity, which has disappointed.” (ASIC refers to application-specific integrated circuit, a class of customizable chip that combines several circuits to perform tasks that would otherwise require multiple interconnected chips.)

Marvell shares were up more than 9% in recent trading, making it the best-performing stock in the Nasdaq 100. Despite Wednesday’s gain, Marvell shares are down about 23% since the start of the year.

Marvell is just one of several semiconductor stocks Moore expects to benefit from strong AI demand over the next year. He also raised his 12-month price targets on Nvidia (NVDA) by 17%, Broadcom (AVGO) by 25%, Astera Labs (ALAB) by 26%, and Advanced Micro Devices (AMD) by more than 50%. All of those stocks were also trading in the green on Wednesday. (Read Investopedia‘s full coverage of today’s trading here.)

“While stock prices have moved higher, our conviction on AI spend durability in 2026 continues to grow,” Moore wrote. Google parent Alphabet (GOOG) last week raised its full-year capital expenditures forecast, citing the need to accelerate data center buildouts to meet seemingly insatiable demand for AI and cloud computing. Investors will get more updates on the strength of AI investment after markets close on Wednesday when tech giants Microsoft (MSFT) and Meta (META) report earnings.

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