This Tech Stock Is Soaring After a Blockbuster Quarter

Marvell Technology Group (NASDAQ: MRVL) has borne the brunt of the stock market sell-off in 2022 so far, but shares of the chipmaker were soaring following the release of its fiscal 2023 first-quarter results (for the three months ended April 30) on May 26. The company, whose chips are used in several fast-growing areas such as data centers, automotive, enterprise networking, and carrier infrastructure, reported impressive growth in revenue and earnings. Let's take a closer look at Marvell's quarterly performance and check why this semiconductor stock could sustain its impressive growth for a long time to come.