Is Marvell Stock a Buy on the Dip as AI Revenue Soars?

Marvell Technology reported fiscal Q2 revenue of $2.74B, up 37% year-over-year, and EPS of $0.94, up 40%, yet MRVL shares dropped 10% following the results. Data center revenue—the key AI growth driver—climbed 46% from the prior year. The company raised its full-year guidance and disclosed a major partnership with Alphabet (GOOG, GOOGL) to supply custom chips beginning in fiscal 2029.

The stock has surged 150% year-to-date and now trades at a forward P/E of 34x. Despite the strong earnings beat and Alphabet collaboration, the analyst from The Motley Fool recommends waiting for a deeper pullback before initiating a position, citing valuation concerns after the sharp rally.