10 AI Stocks That Wall Street Is Betting On

8. Marvell Technology, Inc. (NASDAQ:MRVL)

Number of Hedge Fund Holders: 105

Marvell Technology, Inc. (NASDAQ:MRVL) engages in the development and production of semiconductors. On March 6, Wells Fargo analyst Aaron Rakers maintained a “Buy” rating on the stock and has a $120.00 price target. According to Rakers, the company’s strategic positioning and growth potential justify the buy rating for the stock. In particular, the analyst noted Marvell’s strong alignment with AWS’s next-generation Trainium3 program, anticipated to boost custom XPU revenue significantly.

Another key factor justifying the buy rating for the stock is the company’s confidence in gaining market share in the Data Center segment. Marvell has highlighted a substantial total addressable market opportunity by 2028, and it expects to capture a considerable share. In addition, the company’s Enterprise Networking and Carrier segments are expected to recover too. These key factors, albeit some market volatility, justify the firm’s buy rating for the stock.