JPMorgan Sector Specialist note out last night says MRVL getting TPU business reports are false

JPMorgan Sector Specialist note out last night says MRVL getting TPU business reports are false.

The analyst comments "We are confident these reports of MRVL getting TPU business are false; sure GOOGL is talking to everyone, but there's no story here. MRVL is likely having more serious discussions about an LPU project with GOOGL (and another company, too), and also helping on networking. [MRVL helped Grok bring LPU to the market, and is known as a leader in custom silicon. Harlan talked about this during his “March Madness” presentation two weeks ago, though so far nothing has been won yet] Optical: implicit guide is only 50% growth this year and 40% next year; industry pluggables going to double, and MRVL should do better than 50%. At OFC, learned transceivers double this year and again next. Room for networking to beat. OFC attendees saying AVGO 3nm vs. MRVL 3nm (ramping) DSP — AVGO better? We disagree. Bulls think the setup is good - Matt has finally set expectations appropriately, and will beat consecutively every quarter this year. Others share a view that Matt gets a bad rap considering the great job he's done with acquisitions and running the business.  Some investors getting as high as $8 in F28 EPS."

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