Marvell Technology, Inc. (MRVL): The theory

We encountered a Declining thesis On Marvell Technology, Inc. On Substack an irrational analysis. In this article, we will summarize the bull thesis on MRVL. Marvel Technology, Inc. At $ 77.34 as of August 8^Y. MRVL was the result of P/E forward 22.15 and 27.40, respectively, according to Yahoo’s funding.

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Marvel current is currently facing great relapits through high -speed technology, which is a decisive element in its networks and designated artificial intelligence chips, which leads to tense relationships with senior clients such as Microsoft and Amazon. Modern reports from Edgewateer Securities and Semianalysis reveal that both Marvell and their competitors have fought with Serdes performance problems, causing delay like the second tape of TRN3 ASIC and pushing huge production to the second half of 2026.

Microsoft is said to reconsider Marvell as a Silicon partner due to the performance of amazing networks, while Amazon converts the production of Amazon 4 AI chips from Marvell to alternative suppliers such as Alchip and ASTERA LABS, which uses more reliable IP than polluted and rhythm.

Marvell’s internal attempts were faced to firing the Xpu and AI socket initiatives with doubt, as the industrialists claim that Marvell does not participate in the main emerging AI projects. Despite the pride of many ISSCC publications and 5NM advanced Serdes, the performance in the real world was disappointing-Demos has shown high error rates even with aggressive cooling, and comparisons like Broadcom, whose Serdes offer a better correction of reliability and reliability. Marvell sales and experimental tactics have been criticized, including selective performance standards and controlled test environments, as misleading.

While some technological developments such as dense SRAM and the delivery of new energy (PIVR) were praised, the general narration indicates that Marvell is struggling to provide the promised value in slices of advanced chips. A mixture of late products, technical defects, and client splits casts a shadow on the prospects of Marvel growth and raises questions about their ability to compete against competitors with IP and superior implementation.

Previously, we covered a Saudi thesis On Marvell Technology, Inc. Through simple investment in January 2025, which highlighted the growth of the strong data center in Marvel, allocated silicone deals, and positive financial expectations. The company’s share price has decreased by almost 32 % since our coverage, which reflects the relapses of Serdes and customer concerns. This thesis is still the Marvell IP wallet and the market diversification supports long -term growth. The irrational analysis shares a contradictory point of view, but it emphasizes technical challenges and implementation in the short term.