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Piper Sandler launched Marvell with a $270 target, sending MRVL up 4% on its expanding role in AI custom silicon and co-packaged optics.
Broadcom and NVIDIA edged higher as peer confirmation while Marvell outpaced both the semiconductor ETF and QQQ on the initiation alone.
Murphy's October 6 investor day will either validate Piper Sandler's bullish thesis or expose the limits of Marvell's $15 billion data center projection.
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