Marvell Technology CEO Matt Murphy on Tuesday expressed optimism about a rebound in the automotive market.
In an appearance on “Mad Money,” Murphy pointed to China as a source of that outlook. The semiconductor company, which develops integrated circuits, supplies automotive ethernet for connected cars.
“We believe by the time the car models that we’re in, which are all the brand new models ramping next year, there are certainly very positive signs of production resuming, and I think the first leading indicator is certainly China — China auto — with a strong recovery today,” he told CNBC’s Jim Cramer.