From Nasdaq.: 2024-06-05 05:50:00

The PHLX Semiconductor Sector index gained 23% in 2024, boosting Marvell Technology’s stock. However, Marvell’s shares dropped 10% after its fiscal 2025 first-quarter results were released, with revenue falling 12% and earnings contracting by 23%. The decline was due to weak performance in enterprise networking, carrier infrastructure, consumer devices, and automotive markets. Despite this, Marvell foresees a recovery in the second half of the year, driven by growth in the data center business and custom artificial intelligence (AI) chips. Marvell expects AI revenue to reach $1.5 billion this fiscal year, driving future growth and potentially outperforming expectations.



Read more at Nasdaq.: Is Marvell Technology Stock a Buy?