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This 5G Stock Has Jumped 60% in 2019, but Looks Good for More Upside

TheMotleyFool

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This 5G Stock Has Jumped 60% in 2019, but Looks Good for More Upside

Marvell Technology Group (NASDAQ: MRVL) stock has been on fire this year, even though its business has not been in the best shape. The company's earnings have gone south for five straight quarters, while the top line has decelerated for two quarters in a row.

Marvell's recently released fiscal 2020 third-quarter results reaffirm that the company is having difficulty in navigating the weak semiconductor demand environment this year. Its revenue dropped 22% year over year, and losses increased. But Wall Street continues to remain upbeat about Marvell's prospects despite the headwinds.