Amazon's Spending Plans Prompt Us to Buy More Shares of This Position

* We are scooping up more shares of Marvell after Amazon’s multi-year spending plans.

* The Amazon news is also positive for our Nvidia position, but we have a full boat of those shares.

* Should Universal Display shares continue to move higher, some prudent portfolio management may be called for.

Symbol	Transaction Type	# Shares Traded	Recent Price $	Shares Owned After Trade	% Portfolio
MRVL	Buy	90	69.50	2,510	3.9

After you receive this Alert, we will buy 90 shares of Marvell Technology MRVL at or near $69.50. Following the trade, MRVL shares will account for roughly 3.9% of the portfolio’s assets.

We are adding to our position in Marvell following reports of robust for data center spending plans, including Amazon AMZN planning to spend over $100 billion over the next decade in this area. We’ll look to confirm this figure when Amazon reports its quarterly results in the coming weeks, but this suggests AI, data center, cloud spending will continue.

While capital spending plans from Microsoft MSFT, Meta META, Alphabet GOOGL and others will be a focal point of the upcoming earnings season, we would not be surprised to learn of similar long-term spending plans by those companies. Today’s report about Amazon on its own is positive for our shares of Marvell and Nvidia NVDA but follow-on spending announcements will be even more so as they will confirm we are only in the early innings of AI.

We continue to see Marvell benefiting from ramping AI and data center spending with its Enterprise Networking and Carrier Infrastructure businesses re-accelerating in the coming quarters as AI adoption spurs capital spending activity.

Given the size of our NVDA position, we are not inclined to add further to it, but this news is clearly positive for those shares. When Taiwan Semiconductor TSM posts its June revenue report, we will revisit our NVDA price target as needed. That report from TSM will also be another proof point for AI spending.

As we do this trade, we will continue to watch the portfolio's position in Universal Display OLED closely. Should they continue their upward march, putting them past a 4.5% position, some prudent profit-taking on our part would be a likely move.

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(Please note that we are looking to execute these trades at or near the share price mentioned above. Once the trade is completed, subscribers can see the trade's executed price here. Be sure to toggle the chart to sort by Purchase Date.)

At the time of publication, TheStreet Pro Portfolio was long AMZN, MRVL, GOOGL, OLED and NVDA.