Why Marvell Technology Rocketed 61.4% Higher in the First Half of 2023
Shares of chip stock Marvell Technology (NASDAQ: MRVL) rallied 61.4% in the first half of 2023, according to data from S&P Global Market Intelligence .
Marvell actually had quite a subdued January through April, but shares exploded higher in late May. That's when Nvidia issued blowout guidance for the current quarter, which seemed to validate much of the AI hype that has grown since the introduction of AI chatbot ChatGPT last November. Marvell also reported its own earnings a day later, with management making bullish comments on its own AI growth prospects.
Source Fool.com
