Rumor refuted! Morgan Stanley confirms Marvell Tech still holds a large order for Microsoft AI chips, maintains a target price of $90
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Morgan Stanley released a research report, maintaining a "Hold" rating on Marvell Tech, with a target price of $90. Analyst Joseph Moore confirmed that Marvell Tech still retains its AI chip design project with Microsoft, despite market concerns about its prospects. Moore pointed out that the high switching costs of replacing suppliers mean that the design rights for the project still belong to Marvell Tech. Although the first revenue is expected to be generated in the second half of 2026, Morgan Stanley is cautious about its short-term revenue growth
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