Broadcom (NASDAQ:AVGO), Marvell Technology (NASDAQ:MRVL), and Credo Technology (NASDAQ:CRDO) could help reenergize the artificial intelligence trade this week as they report quarterly results, according to Bank of America.
Analyst Vivek Arya expects all three companies to beat earnings expectations and raise guidance, citing continued capital spending by U.S. cloud providers and sovereign AI investments as key demand drivers.
BofA reaffirmed Nvidia (NASDAQ:NVDA), Broadcom, Marvell, Lam Research (NASDAQ:LRCX), and Analog Devices (NASDAQ:ADI) as its top five semiconductor picks for 2025.
For Broadcom, Arya expects management to reaffirm its $60B$90B serviceable addressable market for custom accelerator chips and networking, pointing to growing partnerships with firms like OpenAI and Apple (NASDAQ:AAPL). Analysts forecast earnings of $1.51 per share on $14.59B in revenue.
For Marvell, a recovery in telecom and AI chip demand, particularly from Amazon's Trainium-2, could push AI silicon sales past $3.5B this year. Analysts expect $0.59 EPS on $1.8B in revenue. Credo may also benefit from Amazon's increasing AI infrastructure investments, with analysts projecting $0.18 EPS on $120.36M in revenue.
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