Latest news with #MattMurphy
BBC News
5 days ago
- General
- BBC News
Analysing new Syria footage and behind the scenes of Gaza investigation
Update: Date: 09:45 BST Title: Welcome Content: Matt MurphyBBC Verify senior journalist Good morning from BBC Verify Live. Its a busy Friday here, and our fact-checkers, data journalists and verification specialists are working on these stories today: All that and more to come this morning. And remember, if there's anything you want BBC Verify to look into you can get in touch using this form.
Yahoo
5 days ago
- Business
- Yahoo
Why Marvell Technology Fell Nearly 30% in the First Half of 2025
Key Points Marvell entered 2025 at a very high valuation. The release of China's DeepSeek and Trump's trade war weighed on shares. However, its shares didn't recover in the matter other rivals did, as investors came to doubt Marvell's competitive position somewhat. 10 stocks we like better than Marvell Technology › Shares of communications semiconductor specialist Marvell Technology (NASDAQ: MRVL) fell 29.9% in the first half of 2025, according to data from S&P Global Market Intelligence. Marvell didn't necessarily report any bad news per se in the first half. Rather, the stock's decline may have been the result of a very high valuation entering the year. And although Marvell should ultimately be able to get its share of custom AI XPU chip share, worries over very strong competition in that area may have kept a lid on a May/June recovery, which most other AI chipmakers experienced. Marvell can't escape the fear, uncertainty, and doubt in the first half Marvell's starting point may have had more to do with its first-half decline as much as than anything else. In 2024, the stock rallied nearly 84%, with the company entering 2025 at a valuation of 70 times 2025 earnings estimates. That lofty perch certainly had a lot of expectations built in, including future growth in custom XPU chips, which Marvell makes for cloud clients such as Amazon (NASDAQ: AMZN), as well as the associated communications chips needed to fill AI data centers. In addition, Marvell's chips that serve legacy businesses like enterprise communications, consumer electronics, and auto/industrial were thought to be on the brink of a recovery after two downcycle years. Marvell actually delivered on those expectations, beating analyst expectations for revenue and adjusted profit in its two earnings reports; however, a valuation that high suggests multiple years ahead of high AI-powered growth. And on the front, some questions emerged. Marvell's super-important custom AI chip business, in which it makes part of AI chips designed by cloud giants, is very levered to one big client: Amazon. On Marvell's March earnings call, sell-side analysts brought up the prospect that Marvell's main competitor, Broadcom (NASDAQ: AVGO), is vying for Amazon's custom silicon business. CEO Matt Murphy said that he still expected growth in revenue from this "big customer" this year, next year, and beyond, but couldn't comment on rumors as to whether Amazon was also working with a rival. Marvell's stock had a harsh post-earnings reaction, probably spurred on by that lack of clarity. In addition, the release of China's DeepSeek model spurred doubts about the needed size of the AI buildout. And the administration's tariff war also harmed the semiconductor sector, given the very international nature of modern electronics supply chains. Marvell has rerated, so it's a more reasonable AI play Marvell is still 43% off its 52-week highs, and now trades at a more reasonable 25 times this year's adjusted earnings estimates. Moreover, Marvell recently increased its estimates for the 2028 AI custom compute market size, relative to estimates given last year. Now, Marvell expects a $55 billion custom AI market, relative to the $43 billion estimate given at last year's Investor Day. And the custom AI market is part of an overall Data Center total addressable market, which includes interconnects, switching, and storage, which Marvell now expects to reach $94 billion in 2028, relative to last year's estimate of $75 billion. In short, Marvell could be primed for a second-half comeback -- although another big custom XPU customer announcement outside of Amazon would go a long way toward making that happen. Should you buy stock in Marvell Technology right now? Before you buy stock in Marvell Technology, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Marvell Technology wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $679,653!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,046,308!* Now, it's worth noting Stock Advisor's total average return is 1,060% — a market-crushing outperformance compared to 179% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 15, 2025 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Billy Duberstein and/or his clients have positions in Amazon and Broadcom. The Motley Fool has positions in and recommends Amazon. The Motley Fool recommends Broadcom and Marvell Technology. The Motley Fool has a disclosure policy. Why Marvell Technology Fell Nearly 30% in the First Half of 2025 was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
BBC News
7 days ago
- Politics
- BBC News
Investigating Gaza aid site deaths and cost of Afghan resettlement plan
Update: Date: 09:38 BST Title: Welcome Content: Matt MurphyBBC Verify senior journalist Good morning from BBC Verify Live. It's a busy morning here. Our fact-checkers, data journalists and verification specialists are working on these stories today: All that to come, and later our fact-check team will be gearing up for Prime Minister's Questions, where Sir Keir Starmer will be grilled by Conservative leader Kemi Badenoch in the final clash before summer recess.
Yahoo
28-06-2025
- Business
- Yahoo
Jim Cramer Calls Marvell's Recent Sell Rating 'Ridiculous'
Marvell Technology, Inc. (NASDAQ:MRVL) is one of the 11 stocks Jim Cramer put under the microscope recently. When a caller highlighted that the stock has received a Sell rating, Cramer commented: 'On Marvell Technology, they have a Sell?… That's just ridiculous. Marvell's an excellent company, and they won a lot of business for some of the hyperscalers. I don't know. That's crazy. Matt Murphy is doing a remarkable job. The stock is starting to act right… So, by the way, I'm leaving a twofer, is AMD. So I think… you're on the right track owning Marvell, and that brokerage firm should rethink their negativity.' An assembly line in a semiconductor factory, with workers at their stations. Marvell Technology (NASDAQ:MRVL) supplies semiconductor solutions for data infrastructure, with a focus on system-on-a-chip designs that incorporate analog, mixed-signal, and digital processing. The company provides Ethernet components, processors, custom semiconductors, interconnect and storage technologies, and high-speed data transfer devices. Hardman Johnston Large Cap Equity Strategy stated the following regarding Marvell Technology, Inc. (NASDAQ:MRVL) in its Q1 2025 investor letter: 'The portfolio's off-benchmark position in Marvell Technology, Inc. (NASDAQ:MRVL) contributed negatively with a return of -44.2%. Shares of Marvell came under pressure during the release and subsequent realization of the innovations of the DeepSeek's R1 model. DeepSeek is a Chinese AI competitor to ChatGPT and other large language models ('LLMs') that claimed to operate at significantly lower cost. This pressured the entire AI compute and networking supply chain, and, while impressive, we believe the immediate selloff was an overreaction. The compute requirements for reasoning models like R1 should drive greater hardware demand and lower cost, as more accessible AI models should drive up adoption. This pressure was exacerbated by Marvell's FY4Q results and FY1Q guidance that fell short of exuberant buyside expectations, as Amazon Web Services ramped its Trainium2 custom processor.' While we acknowledge the potential of MRVL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None.
National Geographic
26-06-2025
- Business
- National Geographic
The complex history of Australian rum—and the best places to find it
During the 18th century, England sought out remote locations to house prisoners as a solution to its overcrowded jails. In 1788, England's First Fleet arrived in the Eora nation—now known as Sydney, Australia—with 11 ships of convicts and officers. For this long voyage, they packed two years' worth of food and four years' worth of rum. The nation was founded without any formal currency except a limited supply of coins, because it was meant to be a convict colony. However, it soon became clear they would need more structure, so they put their bountiful supply of rum to practical use. Rum became intertwined with the history of Australia. It was the original currency, the spirit of rebellion, and a powerful political tool. (Take a mangrove foraging tour with Broome's Aboriginal custodians.) This postcard is part of a series titled 'The Growth of our Empire beyond the Seas,' of the British Empire extending its colonial ambitions across the globe. British soldiers are seen inspecting convict settlers in 1788. Photograph By Look and Learn / Elgar Collection / Bridgeman Images The role of rum in colonial Australia 'Rum was a currency because everyone was addicted to it,' says Matt Murphy, author of the book Rum: A Distilled History of Colonial Australia. This meant that whoever controlled the supply of rum also controlled the colony. After the British landed in Australia, the New South Wales Corps had a monopoly on rum production, which earned them the nickname, the 'Rum Corps.' When Governor Bligh arrived in Australia with a strong will, the order to control the alcohol supply, and other conflicting political views, he was eventually deposed by the Rum Corps in what later became known as the "Rum Rebellion." This was the first and only military coup in the country's history. According to Murphy, the Rum Rebellion was 'the defining moment between Australia being just a convict colony and becoming a place of commercial interest.' Rum became a part of daily life and was used to pay for major land purchases. In the early 1800s, the government had no funds to build a hospital, so it contracted the construction to three entrepreneurs in return for a short-term monopoly on the distribution of 60,000 gallons of rum. This site became known as the 'Rum Hospital,' and it eventually became the New South Wales Parliament House. In the 1840s, an economic depression hit Australia, and people could no longer afford rum, decreasing consumption substantially. By the late 1850s, Australia's gold rush and an influx of male migrants made alcohol more appealing. However, it was around this time that a technological development made beer cheaper and easier to produce than other spirits. Beer gradually became the drink of choice, and the country replaced its beloved rum. ( See Australia's wild beauty—and dark history—on its newest Great Walk .) The Sydney Mint was built between 1811 and 1816 as the southern wing of the Sydney Hospital, also known as the Rum Hospital for convicts. It is the oldest surviving public building in the city's central business district. Photograph By Maurizio De Mattei, Shutterstock A propaganda sketch portrays Governor William Bligh as a coward after his arrest in 1808. Bligh served as the Governor of New South Wales in Australia from 1806 to 1808. He's known for being the captain of the HMS Bounty during the Mutiny on the Bounty, and for his controversial time as governor, which ended with the Rum Rebellion, and armed takeover by the New South Wales Corps. Illustration By William Minchin, Mitchell Library, State Library of New South Wales / Bridgeman Images The impact of rum on First Nations Australians Throughout Australian history, rum and other alcohol were also used to extort, control, and oppress First Nations groups. The First Nations people, also known as the Aboriginal Australians and Torres Strait Islander people, are made up of hundreds of groups and have lived on this land for thousands of years. Before the First Fleet landed, the local Gadigal people had rarely, if ever, encountered alcohol. In 'Rum, Seduction and Death: 'Aboriginality' and Alcohol,' First Nations anthropologist Marcia Langton details the ways that colonial Australians introduced rum, enabled the Aboriginal people until they were addicted, and then provided them with no means to legally obtain it. Langton writes that, 'From the first settlement and throughout the frontier period, alcohol was used to engage Aboriginal people in discourse, attract Aboriginal people into settlements, in barter for sexual favors from Aboriginal women, as payment for Aboriginal labor and to incite Aboriginal people to fight as street entertainment.' Overuse of alcohol leaves people vulnerable to manipulation and abuse, and rum has been continuously and effectively used to maintain the political narrative of the 'drunk Aboriginal.' These racist stereotypes continue to impact modern-day Australia. Langton says, '[The 'drunk Aboriginal stereotype'] remains the background and popular explanation for the extraordinary arrest rates of Aboriginal people, for the continuing removal of Aboriginal children and the continuing exclusion of Aboriginal people from employment.' (In Australia, Aboriginal rangers race to save the last sawfish.) Just north of Byron Bay, Husk Farm Distillers is known as one of the best craft rum brands in Australia. Photograph Courtesy Husk Distillers Craft rum distilleries represent modern Australia Today's craft rum distillers are working diligently and thoughtfully to properly acknowledge and honor First Nations groups in their production processes and storytelling. According to Mindy Woods, a proud Bundjalung woman best known for championing First Nations cooking on MasterChef Australia, 'When we are sourcing food from Country, that's a direct connection to Country and culture–particularly when it comes to native foods. A lot of the time, First Nations people aren't included in that narrative.' Birds of Isle co-founders Chanel Melani and Sally Carter appointed Woods as their First Nations advisor for product development. This ensured that they were informed of the cultural significance of native Australian botanicals before using them in their rums. In early discussions, Woods encouraged them to source their products in a way that was aligned with First Nations groups, including opting for hyperlocal seasonal products, working with First Nations suppliers, and only taking what they needed. When they created their Bunya Nut Rum, Woods showed them how to use the shells in addition to the nuts, allowing them to use both parts of the plant without wasting valuable resources. To respect and care for the native land, they have also made their labels out of sugarcane waste pulp rather than paper. Native plants play an important role in many craft rum companies. 'We wanted to use local and native ingredients in our spiced rum to represent Australia,' shares Brix Distillers co-founder James Christopher. They get many of their native ingredients from an Indigenous-led company that forages herbs in South Australia. 'Embracing our ingredients comes with a responsibility for them to be educated, for them to respect those ingredients, and for them to give back to First Nations communities where they originate from,' says Woods. Craft distillers like Brix and Birds of Isle also use locally grown sugar cane and barrels from nearby wine regions. That allows these rums to be Australian through and through–made up of barrels aged by Australian winemakers, sugarcane grown along the East Coast, and native ingredients that have been cultivated by First Nations groups for thousands of years. Rum remains more than just a drink to today's distillers. It's a source of pride, a celebration of local flavors, and an homage to the country's history. The Australian rum industry is banding together to tell a story that is hundreds of years in the making, and that's something worth drinking to. The Harwood Sugar Mill sits amongst sugar cane fields on the banks of the Clarence River in Harwood, New South Wales, Australia. The mill has been crushing sugar cane since 1874. Photograph By Harley Kingston / Alamy Best places to try Australian rum To drink a bit of Australian history, travelers will have to plan a trip Down Under because very few distilleries export their products out of the country. Craft rum brands like Birds of Isle can be found in most pubs and liquor stores around Australia. You can also visit tasting rooms and distilleries like Brix in Surry Hills, Sydney, and Husk Farm just north of Byron Bay. (8 unique experiences in Australia, from sailing in the Whitsundays to aurora hunting.) Acacia Gabriel is a freelance journalist who covers responsible ecotourism, cultural experiences, and the intersection of outdoor adventure and luxury. Follow along on her website and Instagram.
