** Shares of chipmaker Marvell Technology MRVL.O jump 10.2% to $77.1, highest level since early March
** Co raised FY28 data center total addressable market forecast to $94 bln from prior view of $75 bln at its Custom AI Investor Event on Tuesday
** BofA Global Research raises its PT on stock to $90 from $80, saying "rising tide of AI capex can help drive potential upside for one of the few franchises with a singular data-center focus"
** Revenue from co's data center segment accounted for 76% its total revenue as of Q1 results
** MRVL says it is on track to capture 20% of data center market share by 2028, which TD Cowen says could generate about $8 in EPS
** Co last month forecast Q2 revenue above estimates, betting on strong demand for its custom chips powering AI workloads in data centers
** Including sessions' gains, stock down almost 30% YTD vs 6.5% rise in Philadelphia SE Semiconductor Index .SOX
(Reporting by Shashwat Chauhan in Bengaluru)
((Shashwat.Chauhan@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.