We recently published a list of the 13 NASDAQ Stocks with the Highest Upside Potential. In this article, we are going to take a look at where Marvell Technology Inc. (NASDAQ:MRVL) stands against other NASDAQ stocks with high upside potential.

On April 7, Dan Ives of Wedbush Securities joined CNBC’s ‘Squawk on the Street’ to discuss how the current tariff environment could impact tech supply chains. Musk’s actions and Trump’s tariffs have contributed to broad economic uncertainty, which Ives also referred to as the economic Armageddon for US tech in an earlier conversation. He expressed concern about the structural supply chain challenges posed by recent tariffs and geopolitical tensions. Ives highlighted that the US tech sector has historically maintained an edge over China but this could be wiped out if manufacturing were relocated to the US. The logistical hurdles of building manufacturing plants in the US are not negligible and it would take 4 to 5 years to establish facilities capable of sustaining production levels comparable to those in Asia.

He also acknowledged that he hasn’t downgraded major stocks like the ones in MAG7 but remains cautious. If these previously highlighted issues persist for months, Ives anticipates drastic cuts in earnings. This uncertainty surrounding tariffs could lead to lower demand for emerging technologies like AI and cybersecurity. He explained that this situation could severely impact the US tech companies and lead to broader cuts across the tech sector — potentially up to 25% in earnings. He also criticized Elon Musk’s political involvement, which he believes has caused permanent damage to his brand and customer base. He estimated a 20% demand destruction in Europe and 10% in the US.

Our Methodology

We used the Finviz stock screener to select the 13 stocks with the highest analysts’ upside potential (at least 35%) as of April 8. The stocks are ranked in ascending order of their upside potential. We have also added the hedge fund sentiment for each stock, as of Q4 2024, which was sourced from Insider Monkey’s database.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).

An assembly line in a semiconductor factory, with workers at their stations.

Marvell Technology Inc. (NASDAQ:MRVL)

Average Upside Potential as of April 8: 121.57%

Number of Hedge Fund Holders: 105

Marvell Technology Inc. (NASDAQ:MRVL) provides data infrastructure semiconductor solutions and develops and scales SoC architectures, integrating analog, mixed-signal, and digital signal processing functionality. It operates in the US, Argentina, China, India, Israel, Japan, Singapore, South Korea, Taiwan, and Vietnam.

The company has a strong position in the AI and cloud markets. It achieved significant wins in its AI/cloud ASIC pipeline and has secured a high-volume, next-gen node AI XPU ASIC program with its largest customer, which is Amazon Web Services. This partnership is expected to drive substantial growth for Marvell Technology Inc. (NASDAQ:MRVL). The company’s leadership in electro-optics, substantial market share in DSPs, and its expanding AI ASIC pipeline also add to its growth potential.

Vivek Arya of Bank of America kept a Buy rating on the company with a $120 price target on March 22 due to its AI opportunity and growth trajectory. The firm expects Marvell Technology Inc. (NASDAQ:MRVL) to revise its growth forecast positively at the upcoming June analyst day, particularly as the data center TAM is projected to approach $100 billion. Marvell Technology Inc. (NASDAQ:MRVL) aims for a 20% share of this segment.

Overall, MRVL ranks 1st on our list of NASDAQ stocks with the highest upside potential. While we acknowledge the growth potential of MRVL, our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than MRVL but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.