The ASIC boom has arrived under the AI infrastructure boom! Wall Street looks bullish on Marvell (MRVL.US) with a new research report.

As global AI infrastructure construction enters an accelerated expansion phase, Wall Street analysts generally expect Marvell Technology, Inc. (MRVL.US), focused on large AI data center customized AI chips (i.e. AI ASIC chips), to experience "substantial strong growth momentum" for at least the next two years. Following the release of the latest strong performance data and future outlook, Wall Street analysts have raised their price targets for Marvell over the next 12 months, highly optimistic about the growing market size under the background of the surge in cloud AI inference computing demand driven by AI ASIC, which offers more cost-effective advantages compared to NVIDIA Corporation's AI GPU route. Marvell Technology, Inc.'s latest performance report for the third quarter of the 2026 fiscal year ending on November 1 and the performance outlook for the next quarter have exceeded the average expectations of Wall Street analysts. This AI ASIC chip leader's outlook for its data center business in the next two years has left Wall Street analysts pleasantly surprised. In terms of the most focused performance outlook, Marvell Technology, Inc.'s management expects revenue of approximately $2.2 billion for the fourth quarter, with a range of plus or minus 5%, significantly higher than the average Wall Street analyst expectation of approximately $2.18 billion. This performance expectation has been consistently raised since late October when tech giants such as Alphabet Inc. Class C, Amazon.com, Inc., and NVIDIA Corporation announced strong performances. Even so, Marvell's official outlook remains stronger than the continually revised analyst forecasts, showing how explosive the demand for AI computing infrastructure based on global AI ASIC technology routes is. Marvell and ASIC leader Broadcom Inc. (AVGO.US) are expected to continue their significant growth trajectories since 2023. The company's Non-GAAP earnings per share range is $0.74 to $0.84, significantly higher than Wall Street expectations, with a Non-GAAP gross margin expectation range of 58.5% to 59.5%. In the earnings conference call, management expects total revenue of approximately $10 billion for the next fiscal year, including a 25% increase in revenue from the data center business. Marvell Technology, Inc. CEO Matt Murphy said in the earnings call that the company expects revenue from its customized ASIC chip business to continue to grow strongly next fiscal year, with an expected growth of about 20%, and revenue from the full year of the customized ASIC business in fiscal year 202...