With everyone focusing on Nvidia, JPMorgan likes this other chip stock reporting earnings this week

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Jpmorgan Chase & Co Nouvelles

Earnings,NVIDIA Corp,Marvell Technology Inc

JPMorgan reiterated its overweight rating on Marvell Technology ahead of the company's earnings announcement Thursday after the bell.

Nvidia isn't the only chipmaker to keep an eye out for — according to JPMorgan, which advised clients also monitor Marvell Technology . Analyst Harlan Sur reiterated his overweight rating on Marvell shares ahead of the company's earnings announcement Thursday afternoon. He holds a $90 price target on shares, which indicates 30.7% upside potential from Monday's close. JPMorgan sees second-quarter results and forward guidance coming in line with consensus forecasts.

Marvell's high-profile artificial intelligence application-specific integrated circuit programs should power its revenue recovery, per Sur. "We see the team's AI ASIC/Optical/ cloud/storage segments continuing to drive solid growth while current 5G/ enterprise businesses stabilize, and we believe the company continues to execute on its LT growth initiatives and should drive above-industry growth mid-/longer term," Sur wrote in a research note on Wednesday.

 

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