Marvell Sees 29% Upside as Analysts See Mispricing Opportunity

Marvell Technology (NASDAQ:MRVL) took a hit after its earnings beat, losing 10.28% of its value, but some analysts believe this is an opportunity to buy at a discounted price.

The decline was largely driven by a misreading of the company's expanded agreement with Google (NASDAQ:GOOGL), which will see Marvell design custom silicon for Google's data centers.

Under the terms of the agreement, Google can acquire up to 7% of Marvell's shares as purchase milestones are hit, aligning both companies' upside with a potential $120 billion custom revenue opportunity through 2033.