Marvell Technology (MRVL) rose Tuesday after Goldman Sachs analysts listed the tech name as a long-term beneficiary of artificial intelligence adoption.
CNBC’s Jim Cramer echoed the Wall Street firm’s sentiments, adding Marvell is “sitting on a gold mine” as its semiconductors and other equipment are essential to building out the nascent AI tech.
Marvell is currently in the CNBC Investing Club’s Bullpen, a watch list that Cramer and his team of analysts are considering buying for his Charitable Trust portfolio used by the Club. Marvell used to be in the Trust.
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The analysts at Goldman also think Club names like Nvidia (NVDA), Microsoft (MSFT), Salesforce (CRM) and Meta Platforms (META) will get a further boost from AI. The research note, led by Goldman’s U.S. equity strategist David Kostin, said those on the list will have “potential productivity gains” yet to be priced into their shares.
Here’s a full list of the stocks in Jim’s Charitable Trust, the portfolio used by the CNBC Investing Club.
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