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MRVL Q1 FY27 revenue $2.42B record (+28% YoY), non-GAAP gross margin 58.9%, custom AI silicon run-rate $1.5B/yr across 18 hyperscaler design wins. With AVGO holds 95% of ASIC co-design market. Current $220.91, market cap ~$195B. We initiate BUY with 12M PT $250 (+13.2%).
Published May 28, 2026
Author: VM Genius Equity Research
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