Marvell sets $20 billion FY2028 revenue target and $70‑90 billion FY2031 outlook
Marvell Technology announced at its investor day that it aims for $20 billion in revenue for fiscal 2028, with $18 billion expected from data‑center products, and a longer‑term goal of $70‑$90 billion by fiscal 2031. The company said fiscal Q2 2027 revenue rose 37% YoY to $2.74 billion, with data‑center sales up 46% to $2.17 billion, now representing 79% of total revenue. Following the announcement, the stock slipped 1.3% to $271.19. Analysts responded by raising price targets, ranging from $270 to $425.
Why it matters
The new revenue targets imply roughly 56% annual compounded growth through 2028, which could pressure margins and cash flow if execution falters (). Analysts’ higher price targets reflect expectations that the growth plan could justify the current valuation premium ().
Key facts
- 1Management set a fiscal 2028 revenue goal of $20 billion, with $18 billion expected from data‑center sales (). gurufocus.com
- 2Fiscal 2026 revenue was $8.2 billion overall and $6.1 billion from data centers (). gurufocus.com
- 3Fiscal Q2 2027 revenue rose 37% YoY to $2.74 billion (). finance.yahoo.com
- 4Data‑center sales in Q2 2027 increased 46% YoY to $2.17 billion, representing 79% of total revenue (). finance.yahoo.com
- 5The company projects fiscal 2031 revenue of $70 billion to $90 billion (). finance.yahoo.com
- 6Shares fell 1.3% to $271.19 after the announcement (). gurufocus.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.