JHVEPhoto/iStock Editorial via Getty Images Article Thesis I wrote about Marvell Technology, Inc. ( MRVL ) in the middle of September. With the stock around $69, I saw it as a “Buy,” and I initiated a half position, followed by another quarter at $77.4. My investment thesis was (and is) underpinned by several key elements, starting with a good diversification around the hot data center segment, bu...
JHVEPhoto/iStock Editorial via Getty Images Article Thesis I wrote about Marvell Technology, Inc. ( MRVL ) in the middle of September. With the stock around $69, I saw it as a “Buy,” and I initiated a half position, followed by another quarter at $77.4. My investment thesis was (and is) underpinned by several key elements, starting with a good diversification around the hot data center segment, but also carrier and network infrastructure: Compute: XPU (custom AI accelerators); CPO (co-packaged optics). Opticals: DSP (digital signal processors); pluggable optical modules. Network switches. Storage: storage controllers and accelerators; DPU (data processing units). Beyond the constantly increasing data center TAM, Marvell also came with a plan to increase their market share from about 13% in calendar 2024 to about 20% in calendar 2028. Then, I saw a narrow economic moat, with multi-year partnerships in XPU, leadership in DSP, and cross-sell opportunities from their integrated platform. The stock is today at ~$164.3, with an impressive performance of ~130% in these seven months from my average cost (or ~138% from my previous article), partly due to new wins during this period, but mostly because the market finally recognized their value. I will present below my updated view about their business, fair value, and position. Business Highlights For FY '26 (ended Jan '26), Marvell reported great results for both reporting segments: Marvell FY'26 Results (Earnings Presentation) Let 's start with the “Communications and other” segment. This segment, based especially on carrier infrastructure and enterprise networking, experienced this strong growth rate due to a normal strong recovery after significant declines in previous years. However, the expected forward growth rate for these more mature markets is about 10%. For their “Data Center” segment, there are more notable things to mention: Acquisition of Celestial AI , with its Photonic Fabric optical interconnect technology, w...
Many Americans reduce their tax obligations during their working years by contributing to tax-deferred retirement accounts. However, the federal government eventually collects taxes by making retirees take required minimum distributions (RMDs) . Although the IRS forces retirees to withdraw from their traditional IRAs and 401(k) plans , it doesn't tell you what to do with the money. If you're reinv...
Many Americans reduce their tax obligations during their working years by contributing to tax-deferred retirement accounts. However, the federal government eventually collects taxes by making retirees take required minimum distributions (RMDs) . Although the IRS forces retirees to withdraw from their traditional IRAs and 401(k) plans , it doesn't tell you what to do with the money. If you're reinvesting RMD money in 2026, here are four of the best options. Image source: Getty Images. Continue reading