Marvell Technology (NASDAQ: MRVL) saw a surge in shares after a strong earnings report, reaching over $100 before dropping to around $84 by mid-December, a 16% decline.

The decline in Marvell’s shares is part of a broader trend in AI stocks following disappointing earnings from Oracle (NYSE: ORCL) and Broadcom (NASDAQ: AVGO) in December.

Reports suggest Marvell may have lost significant partnerships with Amazon (NASDAQ: AMZN) and Microsoft (NASDAQ: MSFT), impacting its chip development and stock performance.

Analysts have conflicting views on Marvell’s partnerships, with some believing the company has secured orders for next-generation chips while others suggest potential losses.

Marvell’s CEO has refuted claims of lost business and defended the company’s position in custom chip development, challenging negative reports from analysts and news outlets.

Despite the controversy, analysts remain optimistic about Marvell’s future, with price targets indicating significant upside potential for the stock, suggesting a buying opportunity after the recent decline.

Read more at Nasdaq: MRVL, AMZN and MSFT: Breaking Down the Wall Street Controversy