Marvell Technology’s Upcoming Q3 Results Preview

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Deutsche Bank analysts provided their outlook on Marvell Technology, Inc. (NASDAQ:MRVL) ahead of the Q3 report, scheduled on Dec 1.
The analysts expect the company to deliver approximately in-line results and a slight miss on the guide, with most investors focused on Q4/2023 outlook especially around the sustainability of growth into next year, as skepticism around Enterprise and Data Center demand strength rises amidst the significant cost reduction/OPEX cuts announced by large hyperscalers and the on-going macro headwinds that have caused so many semi companies to guide lower.
The analysts lowered their revenue/EPS estimates by 3%/4% as they expect co-specific tailwinds in Cloud (over $400 million wins), 5G ramp in H2/23, and Auto to be somewhat offset by softness in Enterprise Networking, Industrial and Consumer end-markets.

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