Commenting on Marvell’s (MRVL) new strategic partnership with AWS (AMZN), Oppenheimer analyst Rick Schafer notes that the former is expanding its relationship with AWS through a 5-year deal to supply DC custom AI compute ASICs and connectivity solutions. In conjunction, AWS was granted a warrant to acquire 4.2M shares of MRVL for $87.77 share, expiring Dec 2, 2031. The firm views the news bullishly for Marvell as it helps alleviate persistent speculation of the company’s share loss to Alchip and/or others. Oppenheimer reiterates an Outperform rating on Marvell.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MRVL:
- Marvell and AWS Expand Strategic Partnership for Cloud
- Marvell expands strategic collaboration with AWS
- Options Volatility and Implied Earnings Moves This Week, December 02 – December 05, 2024
- Marvell price target raised to $122 from $98 at Evercore ISI
- Biden adding more China chip curbs, NY Times reports