Why Is Marvell Stock Trading Higher On Thursday?

Data infrastructure solutions company Marvell Technology, Inc.’s MRVL stock is trading higher Thursday in sympathy with Nvidia Corp’s NVDA upbeat quarterly results.

Nvidia reported first-quarter revenue of $44.1 billion, up 69% year-over-year and 12% from the fourth quarter. The revenue beat a Street consensus estimate of $43.2 billion.

Nvidia reported adjusted pro-forma earnings of 81 cents per share in the first quarter. Excluding the charges related to restrictions on chip sales to China, Nvidia said adjusted earnings would have been 96 cents per share.

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Nvidia is guiding for second-quarter revenue of $45.0 billion, +/- 2%.

Marvell stock also soared after a federal court invalidated global tariffs enacted by President Donald Trump under the International Emergency Economic Powers Act. Marvell will report earnings today.

JP Morgan analyst Harlan Sur projected first-quarter revenue of $1.875 billion, up 3% (Q/Q) and July quarter guidance ($2.00 billion+, 7% Q/Q), with solid data center growth led by its AI ASIC ramps, growth in 800G/1.6T AI optical shipments, 400ZR shipments, and HDD/SSD controllers. He noted that the remainder of its business should drive a Q/Q growth profile on cyclical improvements/new product cycles.

Sur noted that Marvell is tracking to drive $4 billion in AI revenues this year (ASICs + networking), up by over 2 times Y/Y, with a strong growth profile into calendar year 2026.

Marvell stock plunged over 43% amid concerns over economic uncertainty and President Donald Trump’s tariff policies. For Marvell, China accounted for 42%-44% of its revenue between fiscal 2022 and 2024, while the U.S. generated 11%-14%.

Price Action: MRVL stock was trading higher by 6.12% to $68.54 premarket at last check Thursday.

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