Can Investing in Marvell Technology Stock Double Your Money?

Earlier this year, Nvidia CEO Jensen Huang said that Marvell Technology (NASDAQ:MRVL) could be the next trillion-dollar company. If that's true, then there could be significant upside for the chipmaker, whose valuation is around $220 billion right now.

Given the promising outlook from Huang and Marvell posting strong growth in recent numbers, is investing in the business likely to double your money in the near term?

Marvell's stock is up big this year, but the market has been cautious of late

Since the start of 2026, Marvell's stock has risen nearly 190%, as of the end of last week. It's been on a tremendous run driven not only by Huang's praise for the business but also by its solid quarterly results.

However, in recent months, the stock has traded sideways, and it's currently down about 26% from its 52-week high. There's been some apprehension of late, likely due to Marvell's high valuation. The stock is trading at more than 80 times its trailing earnings, a steep multiple that reflects high expectations for future growth.

The market may simply be reluctant to pay an even higher multiple for the stock. While Marvell may one day be a trillion-dollar company, when that day comes is anyone's guess. The company does have plenty of potential upside given the growth in artificial intelligence and the ongoing need for chips, but with it reporting 37% revenue growth in its most recent quarter, that may simply not be enough to send the stock soaring a whole lot higher, at least, not in the short term.

The stock could double again, but investors shouldn't expect it to happen soon

Marvell's stock has already more than doubled this year, but how soon it can double from here is a big question mark. I don't doubt that it will double in value and one day reach a valuation of more than $400 billion, but it may take several years for that to happen.

Its current valuation already prices in rosy growth prospects and strong numbers. For it to rise quickly again, Marvell would effectively have to perform even better and give investors reason to be more bullish about its business than they already are today.

This can be a good growth stock to hold for the long haul, and it may very well double yet again, but this time around, it could take a whole lot longer to do so.

David Jagielski, CPA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Marvell Technology and Nvidia. The Motley Fool has a disclosure policy.