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Micron vs. Marvell: Which Chip Stock Is a Better Investment Bet?
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Key Takeaways
Micron's Q4 revenues and EPS jumped 46% and 157% as AI fuels rising demand for DRAM, NAND and HBM3E.
MU gains from NVIDIA's RTX 50 Blackwell HBM supply role and its planned Singapore packaging facility.
Micron's 2026-2027 consensus sees strong revenue and EPS growth, outpacing Marvell's near-term outlook.
Micron Technology (MU - Free Report) and Marvell Technology (MRVL - Free Report) are two semiconductor stocks riding on the artificial intelligence (AI) infrastructure wave, but in very different ways. Micron Technology is focused on memory technologies crucial to powering AI models, while Marvell Technology plays a key role in the custom silicon and data center connectivity space.
With the AI boom to continue driving growth for the semiconductor industry, the question remains: Which stock makes for a better investment pick today? Let’s dive into the fundamentals, valuations, growth outlook and risks for each company.
The Case for Micron Technology Stock
Micron Technology sits at the heart of several transformative tech trends. Its exposure to AI, high-performance data centers, autonomous vehicles and industrial IoT uniquely positions the company for sustainable long-term growth. As AI adoption accelerates, the demand for advanced memory solutions like DRAM and NAND is soaring. Micron Technology’s investments in next-generation DRAM and 3D NAND ensure it remains competitive in delivering the performance needed for modern computing.
The company’s diversification strategy is also bearing fruit. Micron Technology has created a more stable revenue base by shifting its focus away from the more volatile consumer electronics market and toward resilient verticals such as automotive and enterprise IT. This balance enhances its ability to weather cyclical downturns. In the fourth quarter of fiscal 2025, its revenues and non-GAAP earnings per share (EPS) soared 46% and 157%, respectively, year over year.
Micron Technology, Inc. Price, Consensus and EPS Surprise
Micron Technology is also riding on a strong wave of high-bandwidth memory (HBM) demand. Its HBM3E products are attracting significant interest due to their superior energy efficiency and bandwidth, which are ideal for AI workloads.
In January 2025, NVIDIA confirmed that Micron Technology is a core HBM supplier for its GeForce RTX 50 Blackwell GPUs, signaling deep integration in the AI supply chain. Additionally, its newly announced HBM advanced packaging facility in Singapore, set to launch in 2026 with expansion in 2027, underscores the company’s commitment to scaling production for AI-driven markets.
The continuously evolving new tech trends and diversification strategy are likely to aid Micron Technology’s growth over the long run. The Zacks Consensus Estimate for fiscal 2026 and 2027 revenues indicates a year-over-year improvement of 45.8% and 15.7%, respectively. The consensus mark for EPS suggests a robust year-over-year increase of 102.5% for fiscal 2026 and 12.2% for fiscal 2027.
The Case for Marvell Technology Stock
Marvell Technology is benefiting from hyperscalers’ increasing reliance on custom silicon for AI workloads. In fiscal 2025, MRVL’s AI revenues exceeded its $1.5 billion target, and the company expects that AI-related revenue contribution will exceed 50% of the total revenues very soon.
Custom AI silicon and electro-optics products have positioned Marvell Technology as a critical player in high-performance computing. The company’s partnerships with leading hyperscalers ensure sustained growth, with management confident that revenues from its custom XPU (accelerated computing) solutions will continue expanding in fiscal 2027 and beyond.
The company is now entering into the data center interconnect market with COLORZ 800G ZR/ZR+ for Multi-Site AI Training, which is the first of its kind 800 Gbps ZR/ZR+ coherent pluggable optical module for providing scalable and cost-optimized transmission up to 2,000 km. As MRVL included the COLORZ 800G ZR/ZR+ module in its portfolio, it will give a boost to its networking and carrier infrastructure segments’ top-line growth.
Marvell Technology’s enterprise networking and carrier infrastructure segments are also showing strong recovery. In the second quarter of fiscal 2026, enterprise networking revenues climbed 28% year over year to $194 million, while carrier infrastructure grew 71% to $130 million.
These factors are likely to continue aiding MRVL’s top and bottom-line growth. In the second quarter of fiscal 2026, the company’s revenues surged 58% year over year to $2.01 billion, while non-GAAP EPS jumped 123% to 67 cents. The Zacks Consensus Estimate for fiscal 2026 and 2027 revenues indicates a year-over-year improvement of 40.7% and 15.3%, respectively. The consensus mark for EPS suggests a robust year-over-year increase of 80.3% for fiscal 2026 and 18% for fiscal 2027.
Marvell Technology, Inc. Price, Consensus and EPS Surprise
MU vs. MRVL: Stock Price Performance and Valuation
Year to date, Micron Technology shares have soared 146.4%, while Marvell Technology plunged 29.9%.
Image Source: Zacks Investment Research
On the valuation front, Micron Technology trades at a forward 12-month price-to-sales (P/S) multiple of 4.13, far below Marvell Technology’s 7.32.
Image Source: Zacks Investment Research
Conclusion: Buy MU Stock for Now
While both Micron Technology and Marvell Technology play important roles in the chip industry, MU stands out as the better stock to own right now. Micron Technology’s fundamentals remain strong, and its position in the AI-driven memory market is well-established. The company offers compelling long-term growth potential, maintains a disciplined approach to innovation and has a more favorable valuation.
Micron Technology sports a Zacks Rank #1 (Strong Buy), making it a clear winner over Marvell Technology, which has a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
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Micron vs. Marvell: Which Chip Stock Is a Better Investment Bet?
Key Takeaways
Micron Technology (MU - Free Report) and Marvell Technology (MRVL - Free Report) are two semiconductor stocks riding on the artificial intelligence (AI) infrastructure wave, but in very different ways. Micron Technology is focused on memory technologies crucial to powering AI models, while Marvell Technology plays a key role in the custom silicon and data center connectivity space.
With the AI boom to continue driving growth for the semiconductor industry, the question remains: Which stock makes for a better investment pick today? Let’s dive into the fundamentals, valuations, growth outlook and risks for each company.
The Case for Micron Technology Stock
Micron Technology sits at the heart of several transformative tech trends. Its exposure to AI, high-performance data centers, autonomous vehicles and industrial IoT uniquely positions the company for sustainable long-term growth. As AI adoption accelerates, the demand for advanced memory solutions like DRAM and NAND is soaring. Micron Technology’s investments in next-generation DRAM and 3D NAND ensure it remains competitive in delivering the performance needed for modern computing.
The company’s diversification strategy is also bearing fruit. Micron Technology has created a more stable revenue base by shifting its focus away from the more volatile consumer electronics market and toward resilient verticals such as automotive and enterprise IT. This balance enhances its ability to weather cyclical downturns. In the fourth quarter of fiscal 2025, its revenues and non-GAAP earnings per share (EPS) soared 46% and 157%, respectively, year over year.
Micron Technology, Inc. Price, Consensus and EPS Surprise
Micron Technology, Inc. price-consensus-eps-surprise-chart | Micron Technology, Inc. Quote
Micron Technology is also riding on a strong wave of high-bandwidth memory (HBM) demand. Its HBM3E products are attracting significant interest due to their superior energy efficiency and bandwidth, which are ideal for AI workloads.
In January 2025, NVIDIA confirmed that Micron Technology is a core HBM supplier for its GeForce RTX 50 Blackwell GPUs, signaling deep integration in the AI supply chain. Additionally, its newly announced HBM advanced packaging facility in Singapore, set to launch in 2026 with expansion in 2027, underscores the company’s commitment to scaling production for AI-driven markets.
The continuously evolving new tech trends and diversification strategy are likely to aid Micron Technology’s growth over the long run. The Zacks Consensus Estimate for fiscal 2026 and 2027 revenues indicates a year-over-year improvement of 45.8% and 15.7%, respectively. The consensus mark for EPS suggests a robust year-over-year increase of 102.5% for fiscal 2026 and 12.2% for fiscal 2027.
The Case for Marvell Technology Stock
Marvell Technology is benefiting from hyperscalers’ increasing reliance on custom silicon for AI workloads. In fiscal 2025, MRVL’s AI revenues exceeded its $1.5 billion target, and the company expects that AI-related revenue contribution will exceed 50% of the total revenues very soon.
Custom AI silicon and electro-optics products have positioned Marvell Technology as a critical player in high-performance computing. The company’s partnerships with leading hyperscalers ensure sustained growth, with management confident that revenues from its custom XPU (accelerated computing) solutions will continue expanding in fiscal 2027 and beyond.
The company is now entering into the data center interconnect market with COLORZ 800G ZR/ZR+ for Multi-Site AI Training, which is the first of its kind 800 Gbps ZR/ZR+ coherent pluggable optical module for providing scalable and cost-optimized transmission up to 2,000 km. As MRVL included the COLORZ 800G ZR/ZR+ module in its portfolio, it will give a boost to its networking and carrier infrastructure segments’ top-line growth.
Marvell Technology’s enterprise networking and carrier infrastructure segments are also showing strong recovery. In the second quarter of fiscal 2026, enterprise networking revenues climbed 28% year over year to $194 million, while carrier infrastructure grew 71% to $130 million.
These factors are likely to continue aiding MRVL’s top and bottom-line growth. In the second quarter of fiscal 2026, the company’s revenues surged 58% year over year to $2.01 billion, while non-GAAP EPS jumped 123% to 67 cents. The Zacks Consensus Estimate for fiscal 2026 and 2027 revenues indicates a year-over-year improvement of 40.7% and 15.3%, respectively. The consensus mark for EPS suggests a robust year-over-year increase of 80.3% for fiscal 2026 and 18% for fiscal 2027.
Marvell Technology, Inc. Price, Consensus and EPS Surprise
Marvell Technology, Inc. price-consensus-eps-surprise-chart | Marvell Technology, Inc. Quote
MU vs. MRVL: Stock Price Performance and Valuation
Year to date, Micron Technology shares have soared 146.4%, while Marvell Technology plunged 29.9%.
Image Source: Zacks Investment Research
On the valuation front, Micron Technology trades at a forward 12-month price-to-sales (P/S) multiple of 4.13, far below Marvell Technology’s 7.32.
Image Source: Zacks Investment Research
Conclusion: Buy MU Stock for Now
While both Micron Technology and Marvell Technology play important roles in the chip industry, MU stands out as the better stock to own right now. Micron Technology’s fundamentals remain strong, and its position in the AI-driven memory market is well-established. The company offers compelling long-term growth potential, maintains a disciplined approach to innovation and has a more favorable valuation.
Micron Technology sports a Zacks Rank #1 (Strong Buy), making it a clear winner over Marvell Technology, which has a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.