13 NASDAQ Stocks with the Highest Upside Potential

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1. Marvell Technology Inc. (NASDAQ:MRVL)

Average Upside Potential as of April 8: 121.57%

Number of Hedge Fund Holders: 105

Marvell Technology Inc. (NASDAQ:MRVL) provides data infrastructure semiconductor solutions and develops and scales SoC architectures, integrating analog, mixed-signal, and digital signal processing functionality. It operates in the US, Argentina, China, India, Israel, Japan, Singapore, South Korea, Taiwan, and Vietnam.

The company has a strong position in the AI and cloud markets. It achieved significant wins in its AI/cloud ASIC pipeline and has secured a high-volume, next-gen node AI XPU ASIC program with its largest customer, which is Amazon Web Services. This partnership is expected to drive substantial growth for Marvell Technology Inc. (NASDAQ:MRVL). The company’s leadership in electro-optics, substantial market share in DSPs, and its expanding AI ASIC pipeline also add to its growth potential.

Vivek Arya of Bank of America kept a Buy rating on the company with a $120 price target on March 22 due to its AI opportunity and growth trajectory. The firm expects Marvell Technology Inc. (NASDAQ:MRVL) to revise its growth forecast positively at the upcoming June analyst day, particularly as the data center TAM is projected to approach $100 billion. Marvell Technology Inc. (NASDAQ:MRVL) aims for a 20% share of this segment.

While we acknowledge the growth potential of Marvell Technology Inc. (NASDAQ:MRVL), our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than MRVL but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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