Top 10 AI Stocks Dominating the Market Right Now

7. 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, analyst Vivek Arya from Bank of America Securities reiterated a “Buy” rating on the stock with a $120.00 price target. Highlighting Marvell’s strong positioning in the AI sector, Arya pointed out how the company has secured a significant win with Amazon for the next-generation 3nm AI program, which is likely to drive growth through 2026.  In addition, the company’s potential AI custom total addressable market is forecast to exceed $8 billion by 2028, surpassing current consensus estimates.

Marvell’s extensive intellectual property has further enabled it to be recognized as a leading AI vendor, alongside Nvidia and Broadcom. Alongside, forthcoming industry events and Analyst Day are expected to serve as positive catalysts for the stock. The analyst did highlight AI market sentiment risk and gross margin pressures besides these positive catalysts, but Marvell’s growth trajectory with major clients and robust engagement in AI programs seemingly outweigh them.