From the C-Suite: Insights and Advice from Corporate Leaders
11/20/2024
No Comments
Corporate leaders occupy a unique vantage point in the business world, offering insights and guidance shaped by their …
May 30, 2023 -On Friday, shares of Marvell Technology continued a significant overnight rally, surging about 25% off the back of quarterly earnings results that beat on the top and bottom lines.
On Thursday, the chipmaker posted 31 cents in adjusted revenue per share for the first quarter, more than the Refinitiv consensus estimate of 29 cents per share. Revenue came in at $1.32 billion for the period, more than the $1.3 billion analyst consensus.
On an analyst conference call, Marvell CEO Matthew Murphy said the company had begun reassessing how it looked at A. I’m “tremendous” business potential.
“In the past, we considered A.I. to be one of many applications within the cloud, but its importance and, therefore, the opportunity has increased dramatically,” Murphy said.
Citi analysts stated that investors that the firm has a significant opportunity to grow its AI-driven revenue. Citi upped its price target from $58 to $61 and maintained its buy rating.
“In FY2023, MRVL estimated its A.I. revenue to be ~ $200 million, representing a strong uptick from FY22. The company expects A.I. sales to reach ~$400M+ in FY24 before doubling in FY25,” the note from Citi’s Atif Malik said.
Many semiconductor firms experienced a lift from Nvidia’s Wednesday blowout earnings report. Nvidia’s market capitalization now sits close to $1 trillion.
Corporate leaders occupy a unique vantage point in the business world, offering insights and guidance shaped by their …
Corporate leaders today stand at the nexus of unprecedented technological evolution, where digital transformation reshapes industries and redefines …
Corporate leaders stand at the helm of their organizations, often tasked with making decisions that can steer their companies toward …
Corporate leaders are often tested by crises that threaten the very foundation of their organizations. How do these leaders navigate turbulent …
In the vast and often tumultuous seas of corporate leadership, have you ever wondered how some captains …
In the high-stakes game of corporate leadership, where every decision reverberates through the echelons ….
Corporate leaders occupy a unique vantage point in the business world, offering insights and guidance shaped by their …
The United Kingdom’s economy has experienced a disappointing period of stagnation, contracting by 0.1% in September. This contraction …
Appaloosa Management, a prominent hedge fund led by billionaire investor David Tepper, significantly increased its stake …
The e-commerce giant Amazon has introduced a new discount store offering a wide range of products priced under $20. This …
Leave us a message
Subscribe
Fill the form our team will contact you
Advertise with us
Fill the form our team will contact you
