Broadcom's forward P/E of 20 suggests a safer bet than Marvell's 60, despite Marvell's higher stock gain.
Broadcom's AI bookings exceeded $30 billion in one quarter, with demand described as insatiable.
Marvell's growth is more concentrated on a single custom AI relationship.
What happened
Marvell stock is up 155% year to date while Broadcom rose 7%, but Broadcom's forward P/E of 20 versus Marvell's 60 suggests a safer entry point.
Why it matters
Broadcom spreads AI risk across Google, Anthropic, OpenAI, and Meta, while Marvell's expanded Google warrant concentrates its FY29 upside on one relationship. Broadcom's AI semiconductor bookings topped $30 billion in a single quarter, with demand called "simply insatiable" by CEO Hock Tan.
What to watch
Broadcom's latest quarterly revenue was $22.19 billion versus Marvell's $2.74 billion. Broadcom's AI semiconductor revenue grew 143% year over year to $10.8 billion, while Marvell's data center segment grew 46% to $2.17 billion.
Ask the AI about this article →
Both Marvell and Broadcom have benefited from AI-driven demand, but their business profiles differ significantly. Marvell's data center revenue grew 46% year over year to $2.17 billion, making up 79% of its total revenue, while Broadcom's AI semiconductor revenue surged 143% to $10.8 billion. Broadcom's larger scale and diversified customer base—including Google, Anthropic, OpenAI, and Meta—may reduce risk compared to Marvell's concentration on one major relationship.
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