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Luke Kawa

Marvell Technology jumps after raising sales guidance for the next two years

Marvell Technology’s robust outlook is carrying the day after the custom chip designer’s Q4 results came in only fractionally above estimates.

For the final quarter of its fiscal 2026, the custom chip designer reported:

  • Net revenue of $2.22 billion (estimate: $2.21 billion).

  • Adjusted net income per share of $0.80 (estimate: $0.79).

For Q1, management offered guidance for:

  • Net revenue of $2.4 billion, plus or minus 5% (estimate: $2.28 billion).

  • Adjusted net income per share of $0.79, plus or minus $0.05 (estimate: $0.75).

During the conference call, management said that full-year sales for fiscal 2027 would be “approaching $11 billion,” up from its guidance of “approximately $10 billion” in December.

“We expect Marvell’s overall revenue in fiscal 2028 to grow close to 40% year over year, reaching approximately $15 billion, roughly $2 billion higher than the outlook we provided in our December earnings call and driving our non-GAAP EPS to well over $5,” CEO Matt Murphy said on the conference call.

Wall Street estimated Marvell’s full-year sales for fiscal 2027 (roughly calendar year 2026) would be a little over $10 billion and a little less than $13 billion for the following year, roughly in line with the firm’s previous guidance.

Shares extended gains as much as 15% after this boost to the outlook, and are up double digits in premarket trading on Friday.

Last year, there was substantial confusion about the status of Marvell’s relationships with its two biggest hyperscaler clients going forward, with some analysts and media reports indicating that the firm was going to lose some of this business and others saying these custom chip programs remain on track.

Near the end of the conference call, Murphy detailed how “fired up” he was over these reports:

“I’m going to ignore the noise. I mean, if you actually look at last year and all the different things that came out and all the different noise that was out there, it was all wrong. I mean, you had actually analysts retracting notes. You had articles that weren’t even accurate at all. Honestly, it was all noise. Look at our results that we’re guiding. Look at our outlook for this year. Look at our outlook for next year. Do you see me blinking? You don’t.”

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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