Thursday, September 15, 2005

Chips Ahoy: Coverage Initiated on Marvell

When the new Apple nano hit the shelves last week, we asked ourselves: Who's supplying the goods for this ubiquitous gadget?

As we surmised, it was Marvell Technology once again.

Marvell's consistency has been impressive.

It has grown revenues sequentially for 31 consecutive quarters thanks to Apple's tear.

If you don't know Marvell by name, just look inside your iPod.

Those are Marvell's chips hard at work.

Consumer electronics is smoking hot -- and Marvell will continue to make money hand over fist.

We like the balance sheet -- MRVL has $3 dollars a share in cash, marvellous when compared to most tech/growth plays out there.

Coverage initiated today with a Hold Rating.

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