I saw these comments as it relates to Marvell. Now I am 100% sure we are in an AI bubble ...
"Citi analysts said in a note to investors that the company has a major opportunity to grow its AI-driven revenue. Citi upped its price target from $58 to $61 and maintained its buy rating."
and,
" “In FY2023, MRVL estimated its AI revenue to be ~ $200 million, representing a strong uptick from FY22. The company expects AI sales to reach ~$400M+ in FY24 before doubling in FY25,” the note from Citi’s Atif Malik said. "
Stock closed > $65 LOL
There is going to be a bunch of this BS for another week, then JPow going to bring Mjölnir in June/July. This market needs a huge dose of cold water.
[link] [comments] https://www.reddit.com/r/stocks/comments/13sq1hf/mjölnir_needed_for_this_market/
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