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@ Layer3.news
2025-03-07 08:21:52
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CHIPMAKER MARVELL FORECASTS IN-LINE Q1 REVENUE, BUT ITS SHARES SLUMP
https://s.yimg.com/ny/api/res/1.2/Mr_.qJs91BpAt98rSNln_w--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD04MDA-/https://s.yimg.com/os/creatr-uploaded-images/2023-11/4c87cfb0-9026-11ee-bfff-c4d31f514f5d
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✍️ Marvell Technology forecast first-quarter revenue in line with estimates, but its shares plunged 15% as investors were expecting stronger artificial intelligence-driven growth.
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👉 Marvell Technology forecast first-quarter revenue in line with estimates
👉 Shares plunged 15% in extended trading due to investor disappointment
👉 Data center segment revenue grew 78% in the fourth quarter
👉 Company signed a five-year deal with Amazon in December
👉 Focus on data centers to capitalize on AI boom
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#PriyankaG #MaxA.Cherney #ToreSvanberg #ChrisKoopmans #AngeloZino #Bengaluru #SanFrancisco #technology
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