Marvell shares tumble 8% as outlook underwhelms despite 37% revenue growth
Marvell shares tumble 8% as outlook underwhelms despite 37% revenue growth
Marvell Technology witnessed a sharp 8% decline in its share price during premarket trading on Thursday. This downward movement occurred even though the semiconductor firm reported second-quarter revenue that surpassed its previous targets. Investors appeared dissatisfied that the company’s updated fiscal 2028 projections did not reach even higher levels, especially given the massive rally the stock has experienced throughout the year.
Revenue Growth and Fiscal Outlook
The semiconductor manufacturer announced that it now anticipates revenue to climb by approximately 50% on a year-over-year basis, reaching nearly $18 billion. This updated figure represents an increase from the $16.5 billion the company had previously
Source: cnbc.com · 2026-08-28