Marvell Technology Inc. (NASDAQ:MRVL) is one of them 10 stocks to watch right now.
Marvell Technologies rose 18.35 percent to close at $89.57 apiece on Friday, as investors took heart from its strong earnings performance for the full fiscal year of 2026, turning a profit into the billions from a net loss of hundreds of millions a year earlier.
In a recent report, Marvell Technologies Inc. ( NASDAQ:MRVL ) said it earned $2.67 billion in net income for the full fiscal year ended Jan. 31, reversing a net loss of $885 million in fiscal 2025.
Image from the Marvel website
Net income rose 42 percent to $8.2 billion from $5.77 billion a year earlier.
In the fourth quarter alone, net income reached $396.1 million, nearly double the $200.2 million in the same period last year. Net income rose 22 percent to $2.2 billion from $1.8 billion in the year.
Marvell Technologies Inc. ( NASDAQ:MRVL ) Chairman and CEO Matt Murphy attributed the company’s strong performance to strong demand for AI.
Looking ahead, the company is targeting net income of $2.4 billion in the first quarter of fiscal 2027, or a 27 percent increase from the $1.895 billion reported in the same period last year.
GAAP diluted earnings per share were $0.31, plus or minus $0.05, compared to $0.20 for the year.
While we acknowledge MRVL’s potential as an investment, we believe that some AI stocks hold great promise for delivering high returns and have limited risk. If you’re looking for a very cheap AI stock that’s also a big beneficiary of Trump’s tariffs and onshoring, check out our free report Best short-term AI stocks.
Read more: 30 stocks that should double in 3 years and 11 Secret AI Stocks to Buy Right Now.
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