Prediction: This Artificial Intelligence (AI) Chip Stock Will Make a Big Move in October (Hint: It’s Not Micron)

Key Points:

• Micron Technology reported strong fiscal Q4 2026 results on Sept. 30, highlighting robust demand for memory and storage chips critical to AI data centers, which exceeded market expectations and boosted stock prospects.
• Marvell Technology, a key AI chip maker specializing in custom AI processors and networking chips, is set to hold its Investor Day on Oct. 6, where it is expected to raise its revenue guidance further amid rapid growth in AI infrastructure markets.
• Marvell has already increased its fiscal 2027 revenue outlook to $12 billion and fiscal 2028 guidance to $18 billion, with analysts like RBC Capital Markets anticipating additional upgrades including a $2 billion increase in fiscal 2029 AI revenue forecasts.
• Strong earnings growth is projected for Marvell, with EPS expected to rise significantly through fiscal 2029, potentially reaching between $15.00 and $20.00 per share by 2030, which could drive the stock price to around $525 assuming a 30x earnings multiple.
• Despite a recent 16% pullback after a 3x gain in 2026, Marvell’s long-term growth prospects in AI processors and networking chips suggest the stock may still offer significant upside potential for investors ahead of its upcoming guidance update.