Amazon’s re:Invent 2025 Will Set the Stage for This Holding

We’ve become accustomed to companies holding investor days and other high-profile events, where they make multiple product or service announcements and sprinkle the presentation with some updated facts and figures.

Apple’s (AAPL) annual WWDC event has become a staple, as have Meta’s (META) Connect event and Google’s (GOOGL) annual I/O event. This week, we have Amazon’s (AMZN) Amazon Web Services (AWS) re:Invent 2025 and its keynote by AWS CEO Matt Garman scheduled for Tuesday, December 2, from 11 a.m. to 1:30 p.m. ET.

During last year’s AWS re:Invent, Amazon made multiple AI-related announcements, including its Amazon Nova foundation models and its Trainium 3 chips geared for high-performance workloads that started to ramp in late Q3 2025. And as we’ve discussed, these are the same Trainium chips that are part of Marvell’s (MRVL) custom AI chip solutions. That ramp in Trainium 3 production is part of the volume ramp Marvell management discussed for the current quarter when it reported its July quarterly results.

We’ve recently learned AWS will invest up to $50 billion to expand AI and supercomputing for its U.S. government customers and include AWS Trainium chips. Odds are we’ll get more clarity on that announcement during Tuesday's keynote alongside other program wins for AWS and Trainium.

Those announcements and corresponding comments will set the stage for Marvell’s quarterly results after Tuesday's close. Consensus expectations call for Marvell to deliver EPS of $0.74 on $2.07 billion in revenue and to guide its January quarter to EPS of $0.77 on revenue between $2.1 billion and $2.27 billion. Recent comments from Nvidia (NVDA) and Dell (DELL) paint a favorable backdrop for Marvell’s AI and data center business, while ones from Cisco (CSCO) and others do the same for Marvell’s carrier infrastructure and enterprise networking segments.

When Marvell reports on Tuesday night, it will be re-segmenting its reporting lines into two segments: Data Center and Communications & Other. Data Center will be the same as before, while Communications & Other will contain the company’s enterprise networking, carrier infrastructure, consumer and auto industrial end markets. Remember, in mid-August, Marvell completed the divestiture of its automotive ethernet business to Infineon for $2.5 billion in cash, which prompted this re-segmentation.

Also, remember that in late September, Marvell announced an additional $5 billion stock repurchase authorization and a $1 billion accelerated share repurchase program. That news on September 24 accelerated the rebound in MRVL shares. When we review Marvell’s quarterly results on Tuesday, we’ll be looking to see how aggressive the company was in using that accelerated program, and what impact it had on its reported EPS.

As we digest Amazon’s comments on Tuesday morning, and Marvell’s quarterly results and guidance, we’ll revisit our current $125 price target as needed.

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At the time of publication, TheStreet Pro Portfolio was long AAPL, META, GOOGL, AMZN, MRVL and NVDA.