Why Did MRVL, AVGO, HPE Stocks Climb To 52-Week Highs Today?

• MRVL stock soared to an all-time intraday high after Nvidia CEO Jensen Huang called it the “next trillion-dollar company” at the Computex conference in Taipei, Taiwan. 
• AVGO stock climbed to a yearly high of $488.82 on Tuesday ahead of the chipmaker’s Q2 results. 
• HPE stock rallied to an intraday high of $64.25 before paring some gains at close amid a series of price target updates following its record Q2 results.

Marvell Technology Inc. (MRVL), Broadcom Inc. (AVGO) and Hewlett Packard Enterprise Co. (HPE) all soared to 52-week highs on Tuesday, reflecting strong investor demand for artificial intelligence stocks amid a boom in the sector.

MRVL stock rallied more than 32% at close after positive comments from Nvidia’s CEO strengthened confidence in the company's prospects. AVGO shares closed up nearly 5% ahead of its second-quarter (Q2) earnings, while HPE soared more than 19% as Wall Street analysts upped their targets on the company following strong Q2 results.

Marvell Surges On Huang Endorsement

Shares of MRVL soared to an all-time intraday high of $291.30 on Tuesday after Nvidia Corp. (NVDA) CEO Jensen Huang called it the “next trillion-dollar company” at the Computex conference in Taipei, Taiwan.

Marvell has strengthened its position in the AI infrastructure sector, with its data center business accounting for about 76% of first-quarter (Q1) revenue. The company has also raised its fiscal 2027 and 2028 forecasts, reflecting confidence in demand for its networking, custom AI chip, and silicon photonics offerings.

On Tuesday, Stifel raised the price target on Marvell to $321 from $230 and kept a ‘Buy’ rating on the shares after Chairman and CEO Matt Murphy delivered a Computex 2026 keynote, according to TheFly.

While the analyst said the keynote was largely "in line with previously disseminated information," it added that the high-profile event served as a platform to capture increased market acceptance of Marvell's positioning within the broader data center and AI ecosystem.

MRVL stock has more than tripled in 2026, surging 225% so far this year. Retail sentiment around the company on Stocktwits has stayed ‘extremely bullish’ amid the rally.

Broadcom Gains On Earnings Anticipation

AVGO stock climbed to a yearly high of $488.82 in Tuesday’s trading session, extending to four consecutive sessions in the green as markets await the chipmaker’s Q2 results.

Broadcom is expected to post another quarter of strong revenue and profit growth, but markets are likely to focus on the company’s outlook and the impact of its recent strategic deals. In 2026, Broadcom expanded its collaboration with Meta through 2029, secured an agreement to manufacture future AI TPUs for Google, and supported a record $36 billion AI financing deal involving Anthropic and Google.

Earlier this week, Morgan Stanley analyst Joseph Moore raised the price target on Broadcom to $485 from $470 and maintained an ‘Overweight’ rating on the shares ahead of the company's report. The analyst said it sees Broadcom meeting high expectations amid a strong ramp in both networking and ASIC, and expects the company to retain a strong majority of the TPU business.

Wall Street analysts expect the chipmaker to post 47% revenue growth to $22.08 billion, while earnings per share are expected to be $ 2.40 for the quarter.

AVGO stock has soared more than 38% in 2026 as retail sentiment on Stocktwits has stayed in the ‘extremely bullish’ territory.

Wall Street Turns Bullish On Hewlett Packard

HPE stock rallied to an intraday high of $64.25 on Tuesday before paring some gains at close amid a series of price target updates following its record Q2 results.

BofA raised the price target on HPE to $80 from $38 and kept a ‘Buy’ rating on the shares after its "strong" Q2 results and solid guidance, indicating an upside potential of more than 42% from the stock’s last close.

Bernstein also raised HPE’s price target to $62 from $35 and kept a ‘Market Perform’ rating on the shares. The analyst said that it believes the server revenue growth in the current quarter is primarily ASP-driven rather than unit-driven, with a long runway of real demand ahead. UBS, Morgan Stanley, and Wells Fargo were among the other analysts that upgraded their targets on the company.

The company reported Q2 adjusted earnings of $0.79 per share on revenue of $10.7 billion, significantly ahead of Wall Street expectations. It also raised its 2026 revenue growth outlook to 29% to 33%, up from 17% to 22%, and noted that it expects revenue growth to be 8% to 12% in 2027.

Retail sentiment on HPE stock has remained in the ‘extremely bullish’ territory even as the shares have more than doubled so far in 2026.

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