Why Marvell Stock Soared 83% in 2024
Shares of Marvell Technology (NASDAQ: MRVL), which makes data infrastructure semiconductors, soared 83.1% in 2024, according to data from S&P Global Market Intelligence. For context, that's more than triple the S 500 index's 25% return and nearly three times the tech-heavy Nasdaq Composite index's return of 29.6% last year. (In 2025, Marvell stock is down 3.5% through Friday, Jan. 10.)
In 2024, Marvell stock's big outperformance was primarily driven by powerful demand for artificial intelligence (AI) capabilities. The company's data center end market sells custom AI chips -- which are application-specific integrated circuits (ASICs) -- and interconnect products for AI-enabled data centers.
In the first half of the year, Marvell stock gained 15.9%. Relatively speaking, this was just an average performance since it was in line with the S 500's first-half return of 15.3%.
Source Fool.com
