We're Buying More of This Holding After Bullish Corning AI Outlook
Another catalyst for this name could be in Nvidia CEO Jensen Huang’s GTC 2025 keynote.
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| Symbol | Transaction Type | # Shares Traded | Recent Price $ | Shares Owned After Trade | % Portfolio |
|---|---|---|---|---|---|
MRVL | Buy | 192 | $68.75 | 2,205 | 3.3% |
After you receive this alert, we will buy 192 shares of Marvell MRVL at or near $68.75. Following the trade, the Portfolio will own 2,205 MRVL shares, roughly 3.3% of the Portfolio
During Monday’s set of Pro Portfolio Office Hours, the question was asked about the next likely catalyst for Marvell shares. At the time, the answer was Nvidia NVDA CEO Jensen Huang’s GTC 2025 keynote address which begins at 1 p.m. PT on Tuesday, but that has changed to the positive pre-announcement on Tuesday morning shared by Corning GLW.
On Tuesday morning, Corning revisited its prior March quarter guidance, sharing that it now sees EPS at the high end of the $0.48 to 0.52 range and revenue exceeding $3.6 billion. The Wall Street consensus calls for EPS of $0.50 on revenue of $3.63 billion. Good to hear, but we were far more interested in Corning’s comments about its enterprise business and AI. Citing the continued strong adoption of new-gen AI products for inside data centers, Corning now expects its Enterprise sales to grow between a compound annual growth rate of 25% and 30% between 2023 and 2027.
We see that confirming our thought that rising AI adoption will spur capital spending as network capacity utilization levels tighten. That builds on the positive multi-year outlook we’ve discussed the last two days for continued AI investment spending through 2030 as Big Tech shifts from training to inference.
With this move we will reset our panic point on MRVL shares to $59.
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(Please note that we are looking to execute these trades at or near the share price mentioned above. Once the trade is completed, subscribers can see the trade's executed price here. Be sure to toggle the chart to sort by Purchase Date.)
At the time of publication, TheStreet Pro Portfolio was long MRVL and NVDA.
