Marvell, Nvidia seen as having 'good' quarters with potential for upside, Morgan Stanley says
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Marvell Technology (NASDAQ:MRVL) and Nvidia (NASDAQ:NVDA) both have the potential to report strong quarterly results this week, investment firm Morgan Stanley noted, highlighting strength in telecom, networking and cloud spending. 
A team of analysts, led by Joseph Moore, noted that Marvell (MRVL), which supplies chips to Cisco (CSCO), should report a "good quarter with a modest upward revision to estimates," but the team also noted that this has not been enough to move stocks higher this earnings season. 
"Continued tight supply from other semis components in the networking hardware stack should result in both continued strong order visibility and opportunities for price hikes/expedite fee enforcement for at least another quarter, as customers still cannot afford to be caught flat-footed on supply with backlog still at all time highs, even if the pace of that backlog growth is weakening," the analysts wrote on Marvell (MRVL).
Marvell (MRVL) is slated to report first-quarter results on May 26 after the close of trading.
A consensus of Wall Street analysts expects the company to earn 51 cents per share on $1.43 billion in sales during the period.
The analysts have an equal weight rating on Marvell (MRVL) and a $80 price target
Concerning Nvidia (NVDA), which the analysts have an equal weight rating on and a per-share price target of $217, the firm notes that gaming and the data center are likely to be the big drivers this quarter, as they have been in the past. 
"[W]e like the story, and see the stock as a core holding, but with an overheated near-term gaming environment and a crypto cycle that's coming to an end, we see some headwinds in gaming," the analysts wrote, adding that the Lovelace product cycle should be "strong."
A consensus of Wall Street analysts expects Nvidia (NVDA) to earn $1.30 per share on $8.09 billion in sales.
Morgan Stanley noted that investors should not worry so much about the decline in price for retail gaming cards as it could actually work to benefit Nvidia (NVDA). 
"We believe that NVIDIA has been motivated to get card prices down as shortages have eased, with the view that there is significant pent-up demand from gamers if we can get anywhere close to MSRP for Ampere products - which simply hasn't happened since the launch," the analysts wrote.
The analysts also explained that there does not appear to be a slowdown in the horizon for the data center and the company's recent introduction of its Hopper line of GPUs "should be enough for the company to muscle through any issues."
Earlier this month, Morgan Stanley restarted coverage on Nvidia (NVDA), calling it "one of the best growth names" in the semiconductor space.