MRVL ~+8% after Investor Day: ~$20B FY28 revenue target (street ~$18.2B), custom silicon FY29 >$12B, $400B TAM by 2030

[LondonNewsTrader]

Big intraday mover in semis this morning. Marvell (MRVL) held its Investor Day before and around the open, and the stock went from about −3% early in the presentation to as much as ~+10%, last trading roughly +7–8% around the $290s.

What management laid out:
- A total addressable market of about $400B by 2030, on their view that data-center capex reaches roughly $3T by then.
- Revenue of approximately $20B in fiscal 2028. Going in, consensus for FY28 was around $18.2B (and ~$12B for the current FY27).
- Custom silicon revenue in FY29 now expected to more than triple from the current year to above $12B, up from the prior "more than $10B" goal. They stressed it's multiple customers and programs, not one socket.
- Longer-range targets of $70–90B revenue by FY31, which is the kind of number people will argue about for weeks.

Optical/connectivity names (AAOI, ALAB) were firm alongside it at the open.

Scalper read: the shape of the move matters more than the targets. A stock that dips on the first slides and then rips 10% has already shaken out the early sellers, so I'm watching whether it holds the post-reversal VWAP and the $290 area into lunch. If it gives back half the range on fading volume, that tells you the long-dated targets were mostly priced in by the first hour. Spreads are fine, but the 1-minute candles are big, so size down versus a normal MRVL day.

Source (public): Investing.com, 6 Oct ("Marvell Technology stock rallies following ambitious investor day targets"), plus the company's Investor Day webcast.

Are you trading the continuation or waiting for the first real pullback to VWAP? And do FY31 targets like $70–90B change anything for you intraday, or is it all FY28?