On October 2, Marvell Technology rose 3.33% in pre-market trading, trading at approximately $276.06 per share with turnover of $122 million, extending its recent rebound momentum.

On the news front, with the company's October 6 investor day fast approaching, multiple investment banks have issued bullish signals. UBS raised its price target from $310 to $335 while maintaining a Buy rating. RBC Capital Markets highlighted Marvell as one of the few semiconductor names with revenue acceleration potential in both 2027 and 2028, projecting management will raise its 2028 AI revenue forecast by at least $2 billion to over $120 billion. RBC further noted that Marvell's custom chip collaboration with Alphabet is expected to contribute approximately $1 billion in revenue by 2028. Additionally, Marvell recently expanded its strategic partnership with GlobalFoundries to boost silicon germanium capacity for AI data center connectivity and demonstrated industry-first 2nm optical interconnect technology for next-generation AI infrastructure.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)