Marvell Technology (MRVL) could deliver upside to its Q2 results thanks to demand for its artificial intelligence chips and networking offerings, Oppenheimer said in a note Thursday. The Q2 results are due Aug. 28.

The report said Marvell has major AI application-specific integrated circuit projects in the works with Amazon, Microsoft and Google, as well as Network Interface Controller with Meta (META).

Oppenheimer analysts forecast earnings per share of $2.81 for fiscal 2026 and $3.75 for fiscal 2027.

Oppenheimer kept its outperform rating on the stock and a price target of $95.

Shares of Marvell were up more than 3% in recent Friday trading.

Price: 73.47, Change: +2.26, Percent Change: +3.17