Last time I covered $NOK today let’s dive into $MRVL . $MRVL Investor Day (10/6) was a blowout. FY28 rev target raised to ~$20B vs. Street ~$18.2B (~67% YoY). First-ever FY31 framework: $70–90B rev, $30+ EPS vs. consensus ~$47B / ~$19. FY29 custom target bumped to $12B+ from $10B. At the $80B midpoint: ~$30B custom, ~$37.5B interconnect. And the numbers back it up: FQ2 data center rev +46% YoY to $2.17B, followed by a wave of PT hikes (Oppenheimer to $325). The kicker is the 8/19 Google deal: TPU-adjacent custom silicon covering inference accelerators, storage controllers, NICs, memory interfaces and near-memory compute. GOOG got warrants on ~59M shares @ $206.58. ~97.7% of those vest in 240 tranches, one per $500M of custom rev. That's ~$120B theoretical. Not a lock, but it's only partly baked into the FY31 framework, so there's room for upside. But: the 10Y keeps printing new highs, ~90x P/E is rich, and FY31 is a long way from FY26's $8.2B. This needs sustained hypergrowth to hit. The Google deal also adds concentration risk, and AMZN is still the #1 customer. My play: trading the swings, not marrying it. Waiting for multiple compression or a black swan to load up on quality at better prices. NFA.