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Marvell Technology’s fiscal 2028 revenue forecast is now about $20 billion, according to Reuters’ October 6, 2026 report. That is a forward-looking estimate—not revenue Marvell has already earned or a guaranteed outcome. The company’s latest reported results show the demand behind the outlook: Q2 fiscal 2027 revenue was $2.739 billion, up 37% year over year, while data center revenue grew 46%.
What Marvell’s $20 billion forecast means
Reuters reported that Marvell raised its fiscal 2028 revenue forecast to about $20 billion on October 6, 2026, citing strong demand for its data-center chips. The figure is guidance for a future fiscal year. It should not be read as a reported result, a guaranteed target, or a forecast that Marvell has independently broken down by product in the available company materials. Reuters via Investing.com
What Marvell has reported so far
Marvell’s August 27, 2026 results provide a recent performance baseline, but they cover different periods from the fiscal 2028 forecast.
| Measure | Reported result | Period and source |
|---|---|---|
| Revenue | $2.739 billion, up 37% year over year | Q2 fiscal 2027; Marvell’s August 27, 2026 earnings release |
| Data center revenue growth | 46% year over year | Q2 fiscal 2027; Marvell’s August 27, 2026 earnings release |
| Revenue | $8.195 billion, up 42% year over year | Fiscal 2026; Marvell’s March 5, 2026 earnings release |
Data center growth in Q2 fiscal 2027 was faster than Marvell’s overall revenue growth for that quarter. These historical results help explain the optimism in the guidance, but they do not establish what revenue the company will ultimately achieve in fiscal 2028. Marvell Q2 fiscal 2027 earnings release · Marvell Q4 and fiscal 2026 earnings release
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Why Marvell raised its outlook
Marvell CEO Matt Murphy attributed the higher outlook to exceptionally robust AI-related bookings and broad strength across the company’s data center portfolio. In the August 27 release, he said the company expected revenue growth to accelerate further through the remainder of fiscal 2027 and that it was raising its fiscal 2027 and fiscal 2028 outlooks again relative to the prior quarter.
Connectivity and custom business
Murphy pointed to strong demand in connectivity and said Marvell expected a significant acceleration in its Custom business beginning in the second half of fiscal 2027. That is management’s explanation for the outlook, not a guarantee that demand or growth will continue at the same pace.
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Product areas cited in an earlier outlook
In its May 27, 2026 outlook update, Marvell described demand across 800G and 1.6T scale-out optics, 51.2T Ethernet scale-out switches, scale-up optical solutions for NPO and CPO applications, scale-across data center interconnect modules, and custom XPU and XPU-attach solutions. These were details from the May update; they are not a complete product-by-product breakdown of the October fiscal 2028 forecast. Marvell Form 8-K exhibit 99.1, August 27, 2026
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- It indicates a higher future revenue outlook: Reuters reported the fiscal 2028 figure as about $20 billion.
- It reflects management’s view of demand: Marvell linked its recent outlook increases to AI bookings and broad data center portfolio strength.
- It is not an actual result: Fiscal 2028 revenue remains subject to execution and future business conditions.
- It is not a consensus comparison: The available information does not establish how the October figure compares with analyst consensus.
Why October 6 matters
Marvell had announced an Investor Day in New York City for October 6, 2026, with presentations by Murphy and senior leadership. That event provides context for the timing of the forecast news; the announcement itself does not supply additional details about how the approximately $20 billion forecast is divided among products or businesses. Marvell Investor Day announcement
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- REGIONAL COMPATIBILITY: Made for use in U.S. & CA only
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