AVGO vs MRVL Stock Comparison 2026: Broadcom vs Marvell AI Chips: AI Score, Valuation, Performance and Upside
Broadcom and Marvell are both AI data center semiconductor companies with custom ASIC and networking expertise, but at very different scales. Broadcom's custom AI ASIC relationships (Google TPU, Meta MTIA) and Ethernet switching leadership (Tomahawk) are the most significant in the industry — far larger than Marvell's Amazon ASIC relationship. Marvell has unique optical interconnect DSP technology that Broadcom doesn't directly replicate. Both are beneficiaries of AI data center buildout, but Broadcom has more scale and diversification through VMware.
AVGO vs MRVL is the largest custom AI ASIC company with Google/Meta relationships, Tomahawk networking, and VMware software diversification (Broadcom) versus the smaller data infrastructure semiconductor company with Amazon AI ASIC design and optical interconnect DSP differentiation (Marvell) — dominant scale and customer relationships vs smaller-scale growth with optical networking technology edge.
AVGO holds the edge across 3 of 5 key metrics in this comparison. MRVL has delivered stronger 1-year price return (+239.19% vs +0.33%), though AVGO has the better forward P/E setup (18.67x vs 30.75x for MRVL). AVGO leads on both revenue growth (85.50%) and operating margin (54.31%), suggesting a stronger fundamental setup on both dimensions. Analyst consensus implies meaningfully more upside for AVGO (+46.92%) than for MRVL (+37.93%).
Human Wall Street analysts' price targets, typically implying a ~12-month view — a separate signal from this site's own AI Prediction Signal further down the page, which is a 5-/30-day machine-learning forecast based on price history alone.
- prefer the largest scale custom AI ASIC company with Google and Meta hyperscaler relationships at greater development depth than Marvell's Amazon relationship
- value Broadcom's VMware enterprise software adding $8B+ recurring revenue beyond semiconductor cycle sensitivity
- want the broadest AI data center semiconductor exposure — custom ASICs, Ethernet switching, wireless, and enterprise software in one company
- are comfortable with VMware customer backlash, Google/Meta hyperscaler concentration, and premium valuation reflecting quality and scale
- prefer smaller-cap AI semiconductor growth with higher percentage upside potential from Amazon custom ASIC design scaling and optical interconnect adoption
- value Marvell's optical DSP technology leadership as a differentiated capability enabling the high-bandwidth networking AI data center scaling requires
- want AI semiconductor exposure at lower absolute valuation than Broadcom — Marvell's smaller base provides more percentage upside in AI revenue acceleration
- are comfortable with Broadcom's scale advantage in customer relationships, carrier networking cyclicality as legacy revenue drag, and execution risk across multiple simultaneous product development programs
| Metric | AVGO | MRVL |
|---|---|---|
| AI scorei | 76.6 | 79.4 |
| AI ranki | #19 | #16 |
| Latest closei | $347.30 | $240.76 |
| 1M returni | -8.61% | +11.46% |
| 6M returni | +8.59% | +168.92% |
| 1Y returni | +0.33% | +239.19% |
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | AVGO | MRVL |
|---|---|---|
| 1Y ago | $10.06K (+0.6%) started 2025-09-18 | $32.43K (+224.3%) started 2025-09-18 |
| 5Y ago | $83.35K (+733.5%) started 2021-09-20 | $39.68K (+296.8%) started 2021-09-20 |
| 10Y ago | $348.94K (+3389.4%) started 2016-09-19 | $186.64K (+1766.4%) started 2016-09-19 |
Hypothetical — past performance does not guarantee future results.
| Metric | AVGO | MRVL |
|---|---|---|
| Market capi | $1.73T | $185.56B |
| Trailing P/Ei | 46.05 | 68.15 |
| Forward P/Ei | 18.67 | 30.75 |
| Price/Salesi | N/A | N/A |
| EV/Revenuei | 19.79 | 19.66 |
| Analyst targeti | $531.85 | $284.80 |
| Target upsidei | +46.92% | +37.93% |
| Metric | AVGO | MRVL |
|---|---|---|
| Revenue growthi | 85.50% | 36.50% |
| Earnings growthi | 215.30% | 50.00% |
| EPS growthi | +215.30% | +50.00% |
| FCF margini | +34.34% | +25.48% |
| Operating margini | 54.31% | 16.68% |
| Profit margini | 42.94% | 27.93% |
| ROIC proxyi | 44.25% | 16.52% |
| Return on equityi | 44.25% | 16.52% |
| Dividend yieldi | 0.72% | 0.11% |
| Payout ratioi | 32.40% | 7.95% |
| Dividend growth streaki | No increase yet | N/A |
| Betai | 1.46 | 2.25 |
| Debt/equityi | 59.60 | 28.52 |
| Current ratioi | 2.50 | 3.17 |
| Quick ratioi | 2.15 | 2.46 |
Over the past year, AVGO and MRVL have moved moderately in the same direction (correlation of 0.50), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | AVGO | MRVL |
|---|---|---|---|
| 1Y | Growthi | +0.56% | +224.34% |
| CAGRi | +0.57% | +224.88% | |
| Volatilityi | 46.26% | 79.30% | |
| Sharpe ratioi | 0.15 | 1.82 | |
| Sortino ratioi | 0.21 | 3.07 | |
| Max drawdowni | 29.55% | 48.36% | |
| Current drawdowni | 27.88% | 23.91% | |
| Avg drawdowni | 13.75% | 13.65% | |
| Ulcer Indexi | 16.40% | 18.05% | |
| Max daily dropi | 12.59% | 16.74% | |
| Max wkly dropi | 22.35% | 22.60% | |
| 5Y | Growthi | +663.56% | +296.77% |
| CAGRi | +50.24% | +31.79% | |
| Volatilityi | 44.34% | 64.96% | |
| Sharpe ratioi | 1.04 | 0.68 | |
| Sortino ratioi | 1.63 | 1.04 | |
| Max drawdowni | 41.15% | 62.10% | |
| Current drawdowni | 27.88% | 23.91% | |
| Avg drawdowni | 10.58% | 31.60% | |
| Ulcer Indexi | 13.85% | 35.71% | |
| Max daily dropi | 17.40% | 19.81% | |
| Max wkly dropi | 22.35% | 23.97% | |
| 10Y | Growthi | +2520.22% | +1766.36% |
| CAGRi | +38.64% | +34.02% | |
| Volatilityi | 39.88% | 53.54% | |
| Sharpe ratioi | 0.91 | 0.73 | |
| Sortino ratioi | 1.36 | 1.11 | |
| Max drawdowni | 48.30% | 62.10% | |
| Current drawdowni | 27.88% | 23.91% | |
| Avg drawdowni | 8.62% | 20.39% | |
| Ulcer Indexi | 11.91% | 26.80% | |
| Max daily dropi | 19.91% | 19.81% | |
| Max wkly dropi | 31.75% | 23.97% |
| Category | AVGO | MRVL |
|---|---|---|
| Company | Broadcom Inc. | Marvell Technology, Inc. |
| Sector | Technology | Technology |
| Industry | Semiconductors | Semiconductors |
| Core business | Broadcom is the largest custom AI ASIC manufacturer, designing Google TPU and Meta MTIA application-specific chips alongside Tomahawk Ethernet switching ASICs, wireless chips (for Apple iPhone), and now VMware enterprise software. Broadcom's Tomahawk switching chips are the industry standard for AI data center Ethernet switching. Its custom ASIC design relationships with Google and Meta span years of co-development. Broadcom's scale — $35B+ in semiconductor revenue — dwarfs Marvell ($6B). | Marvell is a data infrastructure semiconductor company with custom AI ASICs for Amazon (AWS), optical DSPs for high-speed data center interconnects, and traditional carrier/enterprise networking. Marvell's Amazon ASIC relationship (including Trainium AI training chips and Inferentia inference chips) represents its primary AI custom silicon relationship. Optical DSP silicon for 800G and 1.6T coherent optical networking is a differentiated and growing segment. |
| Investor focus | Investors track AI semiconductor revenue (custom XPUs and networking), VMware subscription conversion, and the anticipated surge in AI ASIC revenue as Google and Meta expand their custom chip programs. | Investors track data center revenue growth, Amazon custom ASIC deployment scale, optical interconnect design win momentum, and quarterly guidance for AI revenue acceleration. |
- Largest custom AI ASIC relationships with Google and Meta at greater scale and earlier stage than Marvell's Amazon relationship
- Tomahawk Ethernet switching ASIC is the industry standard for AI data center cluster networking — used in both Nvidia GPU clusters and custom AI server farms
- VMware acquisition adds $8B+ recurring enterprise software revenue — diversification from semiconductor cycle unavailable to Marvell
- Amazon custom ASIC relationship (Trainium, Inferentia) is a significant and growing hyperscaler AI ASIC design partnership — second only to Broadcom's Google/Meta relationships in scale potential
- Optical DSP technology leadership at 800G and 1.6T speeds for coherent optical networking — a differentiated position enabling AI data center bandwidth scaling
- Smaller size creates more upside potential — Marvell's AI revenue is growing faster percentage-wise than Broadcom's larger base
- VMware enterprise customer backlash from price increases is creating some competitive evaluations
- Custom AI ASIC concentration in Google and Meta — volume risk if either hyperscaler slows AI chip development
- Broadcom's scale means it's 5–6x larger than Marvell — comparing the two on per-dollar terms requires accounting for the significant revenue scale difference
- Broadcom's greater scale in custom AI ASICs (Google and Meta relationships) creates a significant competitive headstart over Marvell's Amazon relationship
- Carrier and enterprise networking revenue (legacy portions of Marvell's business) are in cyclical downturn, creating headwinds on non-AI revenue
- As a smaller company, Marvell faces resource constraints in simultaneously serving Amazon custom ASIC design, optical networking, and enterprise networking markets
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