1 Hot 5G Stock to Buy in June
The COVID-19 outbreak has been unable to slow Marvell Technology Group's (NASDAQ: MRVL) momentum this year. This is clear from the chipmaker's fiscal first-quarter results for the period ended May 2.
Marvell's top and bottom lines in the recently concluded quarter blew past Wall Street's expectations, thanks to strong demand from the data center and 5G markets. What's more, the company's second-quarter guidance for $720 million in revenue represents a near double-digit bump compared to the prior-year period's revenue of $657 million.
Marvell expects adjusted earnings in the range of $0.17 to $0.23 per share, which is higher than the year-ago period's earnings of $0.16 per share at the mid-point. In all, the previous quarter's performance and the accompanying outlook indicate that Marvell could keep doing well despite the coronavirus pandemic.
Source Fool.com
