🔴 Marvell Technology is trading 3.67% down today over Google custom-chip revenue contribution in fiscal 2029

Marvell Technology is trading 3.67% down now at $15.76 after investors focused on management’s indication that Google-related custom-chip revenue will contribute much more significantly in fiscal 2029, later than anticipated.

• Reuters reported that revenue targets through fiscal 2028 already include some Google-related contribution.
• The decline comes despite a fiscal second-quarter earnings beat and raised fiscal 2027 and 2028 revenue outlooks.
• Broader technology weakness is adding pressure, with the Nasdaq down 0.92% and the semiconductor sector down 2.76%.