StocksMediumUpdated×2•Originally published 6 October 2026•Updated 6 October 2026•
1 min read
Marvell Shares Jump 7% After Raising Long-Term Revenue Guidance
Key Facts
1Marvell shares jumped after the company increased its financial guidance during its investor day event.
Marvell Technology shares jumped more than 7% on Tuesday, October 6, 2026, after the company increased its financial guidance. Seeking Alpha reported that the company now sees revenue of $20 billion for fiscal 2028, up from its prior guidance of $18 billion.
The upward revision was driven by targeted revenue growth in custom AI chips, providing a catalyst for investor optimism during the investor day event. MRVL was trading significantly higher following the announcement on October 6, 2026.
Latest Updates · 1
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Update: Evercore ISI raised its price target for Marvell Technology to $433 from $275 on October 6, 2026. The revision followed the company's disclosure of a long-term roadmap targeting annual revenue between $70 billion and $90 billion by fiscal 2031.