Marvell Stock Drops 15% as the Artificial Intelligence (AI) Chipmaker's Guidance Disappoints Investors
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AI chipmaker Marvell’s stock tumbles after-hours, despite earnings and revenue beat
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.
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Marvell's tepid revenue forecast reignites AI spending fears, shares slump
Marvell Technology tumbled 16% and dragged down rival chipmakers on Thursday, after an in-line revenue forecast gave investors another reason to be jittery about spending on AI infrastructure, as a years-long rally shows signs of cooling.
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Marvell’s stock sinks on earnings, showing Wall Street’s harsh view of AI plays
Marvell beat expectations with its latest quarterly results and outlook, but that wasn’t enough to lift the stock.
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"While unwelcome, volatility is common in semi stocks and does not always presage a fundamental shift," Bank of America said.
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