Marvell stock rises about 6% on investor day targets, outpacing Broadcom

Marvell shares rose about 6% on Tuesday, October 6, the day of its Investor Day, while rival Broadcom rose about 4%. The gain followed the fiscal 2028 forecast of about $20 billion and the $70 billion to $90 billion fiscal 2031 range.

• Marvell shares up about 6% on October 6
• Broadcom up about 4% the same day
• Move reflects the fiscal 2028 raise to about $20 billion
• Analysts had expected $18.2 billion for fiscal 2028