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Marvell Technology’s Weak Outlook Triggers 18.6% Stock Plunge Despite AI-Driven Growth
Marvell Technology’s Weak Outlook Triggers 18.6% Stock Plunge Despite AI-Driven Growth
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BTCCSquare news:
Marvell Technology shares tumbled 18.6% Friday as investors punished the chipmaker's disappointing Q3 revenue guidance of $2.06 billion (±5%), missing analyst expectations of $2.11 billion. The selloff occurred despite Q2 results showing 58% annual revenue growth to $2.006 billion, with data center sales surging 69% to $1.49 billion.
Executives warned of flat near-term data center performance before a projected year-end recovery, overshadowing adjusted earnings of $0.67 per share that matched estimates. The market's reaction highlights how forward-looking expectations now dominate short-term performance metrics in tech valuations.
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