Marvell impresses Wall Street with strong earnings and a much bigger long-term outlook

Marvell Technology gave Wall Street a growth story it could not ignore. At its Investor Day on October 6, 2026, CEO Matt Murphy laid out a fiscal 2031 revenue target of between $70 billion and $90 billion. For context, the company’s expected fiscal 2026 revenue is $8.2 billion. Murphy is pitching a business roughly an order of magnitude larger within about five fiscal years, and investors seemed willing to hear him out. Shares of Marvell (MRVL) climbed nearly 8% intraday after the presentation. The numbers behind the hype The long-range target did not arrive in a vacuum. It followed Marvell’s fiscal Q2 2027 report, which showed record quarterly revenue of $2.74 billion. That figure was up 37% year-over-year. The real engine was the data center. That segment brought in $2.17 billion in the quarter, a 46% increase from a year earlier. Data-center sales made up 79% of total revenue. Management also lifted its full-year view. Marvell now sees fiscal 2027 revenue of approximately $12 billion, which would represent about 45% growth year over year. Within that, the company anticipates data-center growth of nearly 60%. The medium-term target moved too. Marvell revised its fiscal 2028 reven...