Oppenheimer analysts provided their views on Marvell Technology, Inc. (NASDAQ:MRVL) ahead of the upcoming Q1 earnings, scheduled to be reported on May 25, anticipating in-line results and Q2 guidance. The analysts see the company as a top beneficiary of increased AI spending as optics/connectivity scale with processing power.

The company sees 5G RAN and auto leading the growth in Q1 and in fiscal 2023. Gross margin is expected to be 60% in Q1, down 350bps quarter-over-quarter.

Management sees H2 revenue growth and gross margin expansion as cloud and storage inventory normalize and new products ramp.