Marvell lifts 2028 revenue target to $20 billion as shares jump 9%

Marvell raised its revenue outlook for 2028 to roughly $20 billion, saying strong demand drove the upgrade. The announcement sent the company’s shares up almost 9% in early trading. The chipmaker had earlier in August forecast $18 billion for 2028, a figure analysts thought would be slightly higher. This year Marvell’s stock has tripled, showing growing investor confidence in its growth story.

Context

The new target reflects the surge in orders for semiconductors used in AI and data‑center workloads, a market that is expanding rapidly. Higher revenue guidance usually signals better earnings prospects, which can push the share price higher.