Marvell raised its 2028 revenue forecast to about $20 billion on 6 October from $18 billion in August, citing strong demand for its data centre chips, Reuters reported.
Key points
- Marvell now forecasts about $20 billion in 2028 revenue, up from the $18 billion it projected in August.
- Analysts expected $18.2 billion, according to LSEG data reported by Reuters.
- Marvell shares rose nearly 9% in early trading on 6 October.
Marvell’s forecast exceeds the $18.2 billion estimate
Analysts had expected 2028 revenue of $18.2 billion, according to LSEG data reported by Reuters. Marvell’s revised forecast is for about $20 billion, a figure the company tied to demand for chips used in data centres.
The August forecast was $18 billion. Both figures concern revenue in 2028, rather than sales for the current year. The revision puts Marvell’s own outlook above the analyst estimate cited by Reuters.
Data centres account for 72.2% of Marvell sales
Data centres account for 72.2% of Marvell’s net sales, according to MarketScreener’s company profile. The profile lists AI systems, data storage, Ethernet switches, servers and interconnection systems among the applications in that business.
Enterprise networks make up 10.9% of net sales. The profile puts telecom network infrastructure at 5.9%, while consumer electronics and automotive and industrial applications each account for 5.5%.
The profile describes Marvell as a designer and marketer of communications and storage circuits for manufacturers of high-speed network equipment, hard disks and consumer electronics. Its listed data centre applications include both AI systems and other computing and networking equipment.
Marvell shares rise nearly 9% on 6 October
Marvell shares rose nearly 9% in early trading on 6 October, Reuters reported. The stock had more than tripled in value so far in 2026.
