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@ Yahoo! Finance - by layer3.news
2025-03-06 13:40:22
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✍️ Marvell Technology's revenue forecast failed to alleviate concerns about the decline in demand for AI infrastructure, causing its stock to plummet 16% and dragging down rival chipmakers.
👉 Marvell Technology's stock fell 16% after its revenue forecast failed to alleviate concerns about the decline in demand for AI infrastructure.
👉 Rival chipmakers also declined, with Broadcom's stock falling 4% and Nvidia's stock sliding 2%.
👉 The decline in demand is attributed to a slowdown in on-premise datacenter products, which is affecting Marvell's core business.
👉 Marvell's adjusted gross margin is expected to decline due to lower margins from custom chips compared to off-the-shelf processors.
#ArsheeyaBajwa #MattMurphy #Bengaluru #technology
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