Market Sell-Off: Buying This Tech Stock Is a No-Brainer Right Now
The broader market sell-off has sent Marvell Technology (NASDAQ: MRVL) stock packing in 2022, with shares of the chipmaker down 31.1% so far this year. When you look at Marvell's results for the fourth quarter of fiscal 2022 (released on March 3), however, you see indications that the stock's pullback might just be a buying opportunity given the pace at which the company is growing.
Marvell's revenue and earnings cruised past Wall Street's expectations thanks to the terrific growth in its top and bottom lines. The company's guidance was also better than expected on account of the robust demand for its chips, which are used in multiple fast-growing markets such as data centers, cloud computing, 5G wireless networks, enterprise networking, and automotive.
Let's take a closer look at Marvell's quarterly report and check why buying this tech stock is a no-brainer right now.
Source Fool.com
