Marvell Technology is trading 12.42% down at $15.87 after investors focused on management’s comments that expanded Google custom-chip partnership revenue will contribute much more significantly in fiscal 2029, later than expected.
- Fiscal second-quarter earnings beat, while fiscal 2027–2028 forecasts were higher.
- Semiconductor weakness and broader risk-off sentiment from higher oil and hawkish Federal Reserve messaging added pressure.
- Reuters reported the timing concern directly.