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Jim Cramer: Marvell stock is expensive unless results fully deliver
Marvell reported an earnings beat on August 27, 2026, yet the shares fell 10.3% the next session to $216.62.
Jim Cramer said Marvell Technology looks expensive unless “everything works,” likening the stock setup to what happened with NVIDIA. He tied the argument to Marvell’s recent earnings performance and the market’s focus on whether management can deliver on its longer dated growth outlook.
Marvell beat earnings on August 27, 2026, but shares closed the following session at $216.62, down 10.28% on the day. The stock had already surged, rising 155.27% year to date and 181.09% over one year, so the article said a modest improvement versus expectations may not be enough to change the narrative.
The piece said Marvell’s trailing price to earnings ratio is about 83x, and that forward expectations still imply a high bar. It argued the market case depends heavily on Marvell’s guided fiscal 2028 growth, including total revenue growth of approximately 50% year over year and data center revenue growth of more than 60%.
The outlook is also described as concentrated, with data center accounting for 79% of revenue, meaning any pullback by a major hyperscaler could unwind the bull case. The article also pointed to an October 6 analyst meeting as a key catalyst for investors underwriting the fiscal 2028 and fiscal 2029 story, according to Yahoo Finance.