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Marvell Technology Shares Drop 7% Despite Record Q1 Revenue Driven by AI Demand
Marvell Technology Shares Drop 7% Despite Record Q1 Revenue Driven by AI Demand
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Marvell Technology’s stock fell over 7% despite posting record Q1 revenue of $1.895 billion, a 63% year-over-year surge. The data center segment led growth with $1.44 billion in revenue, up 76% annually, fueled by AI-driven demand for custom silicon and electro-optics solutions.
Non-GAAP earnings per share jumped 158% to $0.62, while the company repurchased $340 million in shares. Guidance for Q2 projects $2 billion in revenue at midpoint, signaling continued confidence in AI infrastructure spending.
The market’s negative reaction contrasts with fundamental performance, suggesting potential profit-taking after a strong run. Semiconductor stocks remain volatile despite structural growth in AI-related segments.
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