Marvell’s latest earnings beat Wall Street’s estimates, but the company’s outlook was roughly in line with expectations.

Despite topping those key guidance metrics, Marvell’s stock fell more than 15% after-hours. This year, investors have been punishing AI-related stocks that fail to meet their sky-high expectations, and Marvell’s stock is now down 18% in the year to date.

Marvell Technology (MRVL) reported fiscal fourth-quarter results that beat analysts’ expectations, but shares tumbled in extended trading as its outlook failed to impress. The semiconductor company saw revenue grow 27% year-over-year to $1.