Marvell Rallies After AI Computing Demand Bolsters Outlook
Marvell Technology Inc. jumped in late trading after the chipmaker delivered better-than-expected results and an upbeat earnings forecast, citing demand for artificial intelligence computing. Third-quarter profit was 43 cents a share, excluding some items, the company said in a statementBloomberg Terminal Tuesday. That beat the 41-cent average estimate of analysts. Marvell expects earnings on that basis of as much as 64 cents in the current period, well ahead of the 52-cent projection....
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