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The major market indexes closed in the green yesterday for the second straight session after exhibiting volatility over the past few weeks. The tech-heavy Nasdaq Composite jumped 3% to 15,686.92, recording its best day since March 9, 2021. The recent market volatility has been triggered by the concerns relating to the COVID-19 Omicron variant and the Fed’s decision to wrap up its bond purchases and raise interest rates sooner than expected.

The tech industry is expected to grow significantly in the foreseeable future due to the increasing applications of advanced tech solutions across several industrial sectors and the continuing remote working trend. Wedbush analyst Dan Ives believes there will be a $2 trillion digital transformation opportunity over the long-term, which could boost the tech industry’s growth by impacting the consumer and enterprise tech ecosystem.

Against this backdrop, we think it could be wise to add large-cap tech stocks Marvell Technology, Inc. (MRVL) and Dell Technologies Inc. (DELL) to one’s watch list because they have been hitting new price highs.

Marvell Technology, Inc. (MRVL)

MRVL is a Hamilton, Bermuda-based data infrastructure semiconductor solutions provider with a $77.22 billion market capitalization. Its semiconductor designs help companies move, store, process, and secure data. In addition, its subsidiary, Inphi Corporation, provides analog and mixed-signal semiconductor solutions for the communications and the cloud markets.

On Dec. 7, MRVL announced its collaboration with OE Solutions to deliver the industry’s first production-ready 100G QSFP-DD optical modules optimized for 5G backhaul and Metro Access applications. The product is scheduled for release in 2022.

The OE Solutions 100G QSFP-DD Coherent Transceiver with the Marvell Deneb Coherent DSP (CDSP) will enable the transition of 10G to 100g coherent solutions for unprecedented performance and scalability of 5G, metro, and access applications. So, MRVL’s innovations could help address the growing carrier requirements of 5G.

For its fiscal third quarter, ended Oct. 30, 2021, MRVL’s net revenues increased year-over-year to $1.21 billion. The company’s non-GAAP net income increased to $364.31 million, while its non-GAAP operating income increased to $417.82 million.

Analysts expect MRVL’s EPS for its fiscal year 2022 to increase 67.4% year-over-year to $1.54. Its revenue for the quarter ending Jan. 31, 2022, is expected to increase to $1.24 billion. It surpassed consensus EPS estimates in three of the trailing four quarters, and the stock has gained 27.3% in price over the past month after hitting its 52-week high of $92.40. The stock has recently been trading at around $90.60.

Dell Technologies Inc. (DELL)

Round Rock, Tex.-based DELL, with a $45 billion market capitalization, provides information technology solutions. The company’s segments include its Infrastructure Solutions Group (ISG) and the Client Solutions Group (CSG). The ISG segment helps in the digital transformation of its customers through its multi-cloud and big data solutions, while the CSG segment includes hardware and peripherals.

In collaboration with Amazon Web Services, Inc. (AMZN), DELL announced on Dec. 1 that it is bringing Dell EMC PowerProtect Cyber Recovery for AWS, an air-gapped cybersecurity vault, to the AWS marketplace to protect and safeguard its customers from ransomware attacks. DELL is thus helping customers by providing a cyber recovery solution that isolates critical business data in an air-gapped cyber vault.

DELL’s non-GAAP net revenue for its fiscal third quarter, ended Oct. 30, 2021, increased 20.9% year-over-year to $28.40 billion. The company’s non-GAAP operating income came in at $2.86 billion, up 5% year-over-year. In addition, its non-GAAP net income increased 18% year-over-year to $2.01 billion, while its non-GAAP EPS increased to $2.37.

For its fiscal year 2022, DELL’s EPS and revenue are expected to increase 3% and 11.8%, respectively, year-over-year to $8.24 and $105.57 billion. It surpassed the Street’s EPS estimates in each of the trailing four quarters. And over the past month, the stock has gained 4.5% after hitting its 52-week high of $59.49. The stock has recently been trading at around $58.47.