Marvell Technology Is Might Be Setting Up For A Long Shortly
Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. In a nutshell, Marvell is another player in the 5G space.
Management believes that the company is entering a new product cycle driven by 5G, data center, automotive and enterprise markets and demand for their 5G products should increase in the coming quarters as deployments pick up.
For example, Marvell Technology has partnership agreements with major handset makers Samsung and Nokia in which they provide chips needed to power the new 5G devices. Keep in mind, Samsung is one of the world’s largest smartphone makers, so Marvell should do very well in the next couple of years.
Marvell reported earnings on Weds and despite decent number, the stock sold off. The company said revenue for the current quarter will be flat compared with the year-earlier period and like other companies, they are having problems with supplyig chips to the hyperscale computing, 5G, and automotive sectors.
Video Source: https://www.youtube.com/channel/UCrp_UI8XtuYfpiqluWLD7Lw
The stock is way off its highs set in January. Thus, the chart suggests to go long at the monthly demand at $36.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
Posted Using LeoFinance Beta