{"id":154754,"date":"2026-08-28T19:34:24","date_gmt":"2026-08-28T19:34:24","guid":{"rendered":"https:\/\/www.europesays.com\/ai\/154754\/"},"modified":"2026-08-28T19:34:24","modified_gmt":"2026-08-28T19:34:24","slug":"marvell-stock-tumbles-6-as-outlook-underwhelms-despite-google-deal","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ai\/154754\/","title":{"rendered":"Marvell stock tumbles 6% as outlook underwhelms despite Google deal"},"content":{"rendered":"

An aerial view of Marvell Headquarters in Santa Clara, California, United States on June 2, 2026. <\/p>\n

Tayfun Coskun | Anadolu | Getty Images<\/p>\n

Marvell Technology<\/a> shares fell 6% on Friday despite a second-quarter revenue beat, as its raised fiscal 2028 outlook failed to meet investors’ elevated expectations.<\/p>\n

The chipmaker said Thursday that it now expects revenue to grow about 50% year-on-year to around $18 billion, higher than its previous forecast of $16.5 billion.<\/p>\n

Revenue rose 37%<\/a> to $2.7 billion in its fiscal second quarter. That came in $39 million above the company guidance provided in May. <\/p>\n

Marvell, which makes networking, connectivity and custom chips used in AI data centers, offered limited detail on its fiscal 2028 outlook, dampening investor sentiment after hopes that a Google partnership<\/a> worth up to $12.2 billion in shares would further boost earnings. <\/p>\n

The stock was last trading down 6.6%. It’s up 184% this year, buoyed by demand for its products used in AI infrastructure. <\/p>\n

Stock Chart IconStock chart icon\"hide<\/p>\n

Marvell Technology stock since the start of the year. <\/p>\n

Marvell’s Chairman and CEO Matt Murphy said the results were driven by continued strong demand across the company’s data center portfolio, where revenue growth accelerated to 46% year over year.<\/p>\n

“AI-related bookings remain exceptionally robust, and we expect our revenue growth to accelerate further through the remainder of fiscal 2027,” Murphy added.<\/p>\n

The Google partnership, announced last week, allows the tech giant to buy up to 58.97 million Marvell shares at $206.58 each, subject to purchase targets through fiscal 2033.<\/p>\n

Marvell said the agreement covers products that work with Google’s TPU systems, including AI inference chips, storage controllers and network interface controllers.<\/p>\n

\"Marvell<\/p>\n

Goldman Sachs analysts noted “high investor expectations” ahead of the quarter.<\/p>\n

“We believe investor expectations were elevated heading into the quarter based on robust spending at key customers, as well as the previously disclosed Google relationship,” the analysts said in a Thursday note.<\/p>\n

The results were an “incremental positive” for the stock, they added. Goldman Sachs remains neutral on Marvell as the investment bank noted that it trades at a higher valuation than its peers and there is less certainty about its ability to add custom-chip customers. <\/p>\n

Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"An aerial view of Marvell Headquarters in Santa Clara, California, United States on June 2, 2026. Tayfun Coskun…\n","protected":false},"author":2,"featured_media":154755,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[24,131,1095,133,309,148,71468,3775,132,1429,13221,1108,842,286,5050,33180,134],"class_list":["post-154754","post","type-post","status-publish","format-standard","has-post-thumbnail","category-google","tag-ai","tag-alphabet-class-a","tag-breaking-news-markets","tag-breaking-news-technology","tag-business","tag-business-news","tag-corgi-mrvl-2x-daily-etf","tag-earnings","tag-google","tag-google-ai","tag-intl-premarket-movers","tag-ishares-expanded-tech-software-sector-etf","tag-ishares-semiconductor-etf","tag-markets","tag-marvell-technology-inc","tag-matt-murphy","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/154754","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/comments?post=154754"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/154754\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media\/154755"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media?parent=154754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/categories?post=154754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/tags?post=154754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}