Marvell socket defection fears ‘overstated,’ says Stifel

Stifel believes that speculation suggesting Marvell’s (MRVL) lead XPU customer defecting to a rival ASIC competitor for its next-generation platform is “without merit” and believes socket defection fears have been “overstated,” the analyst tells investors. The firm, which also believes reports from yesterday suggesting Marvell is not participating in its lead ASIC customer’s next generation platform are “misleading,” keeps a Buy rating on Marvell shares.