Jim Cramer Breaks Silence On DeepSeek AI Sell-Off & Discusses These 12 Stocks

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

Number of Hedge Fund Holders In Q3 2024: 70

Marvell Technology, Inc. (NASDAQ:MRVL) is a semiconductor firm that sells chips such as network controllers and signal processors. The firm has been one of the biggest beneficiaries of the AI wave as investors have piled in over its ability to join Broadcom to provide chips that are also capable of running AI workloads. Yet, as the wind was blown out from AI stocks on Monday, Marvell Technology, Inc. (NASDAQ:MRVL)’s shares dropped by a whopping 19%. For his part, Cramer commented on a note from Melius Research that upgraded the stock to Buy and set a $188 share price target:

“But Marvell’s had a, in the Mellius piece today it talks about just huge numbers. All these could be pushed back.”

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