Pimco is showing renewed interest in mortgages, citing them as one of the most attractive assets. The investment management firm is eyeing mortgages once again, indicating a potential shift in focus within the financial sector.

Marvell Technology Inc. has emerged as the new top pick for Citi analyst, Atif Malik, dethroning Nvidia Corp. from its previous position. Malik highlighted the favorable 2024 outlook for Marvell, emphasizing the company’s involvement in artificial intelligence and its potential to benefit from the growth in AI optics market. Marvell’s offerings in compute, networking, storage, and custom semiconductor solutions position it as a key player in the AI boom, according to Malik.

Furthermore, Marvell is anticipated to witness positive movement in its stock value due to the projected expansion of the AI optics market and the increasing sales of custom application-specific integrated-circuit AI projects. Additionally, the company is expected to experience a resurgence in noncloud markets, particularly in enterprise networking, as indicated by Malik, who previously mentioned a potential recovery for overall enterprise networking demand in the near future.

Marvell’s stock has received a buy rating from Malik, aligning with his positive outlook on Nvidia’s shares. However, he pointed out Nvidia’s recent stock surge of over 20% leading up to CES, the prominent technology trade show. Despite the strong performance of both Marvell and Nvidia in the early months of 2024, with Marvell’s stock up 15% and Nvidia’s up 17%, analysts have highlighted the potential challenges for relative managers in tracking benchmark performance given the flat performance of Nasdaq COMP and S&P 500 SPX.

These developments indicate a shifting landscape within the chip industry, with Marvell emerging as a prominent player and garnering attention from leading analysts. As the year progresses, the performance of Marvell and Nvidia will be closely monitored within the context of the evolving market dynamics and the competitive landscape.