Marvell's stock sells off after company couldn't meet Nvidia's high bar on AI

Marvell Technology Inc. had a tough act to follow this week, reporting the day after Nvidia Corp. blew Wall Street’s collective mind with billions of dollars more in data-center sales than analysts had expected.

The company’s data-center sales fell 29% to $459.8 million in the latest quarter, though they exceeded the $439.9 million FactSet consensus. By contrast, Nvidia posted data-center sales a day earlier that were more than $2 billion above what Wall Street expected. Mizuho desk analyst Jordan Klein said that even though Marvell’s forecast was “underwhelming,” AI sales were larger than expected.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Marvell earnings: What to expect from the chip makerMarvell will report earnings Thursday afternoon on the heels of mind-blowing results from Nvidia.
Source: MarketWatch - 🏆 3. / 97 Read more »

Why AMD, Marvell, Intel and other chip stocks are falling after Nvidia earningsWall Street is cheering Nvidia's blowout results and outlook, but investors aren't extending that enthusiasm to the company's peers.
Source: MarketWatch - 🏆 3. / 97 Read more »

Why AMD, Marvell, Intel and other chip stocks sank after Nvidia earningsAMD shares were among the S&P 500's biggest laggards Thursday as Nvidia's blowout results failed to drive the chip sector higher.
Source: MarketWatch - 🏆 3. / 97 Read more »

Marvell stock declines after earnings beat, in-line outlookMarvell Technology shares declined after hours Thursday after the chip maker's earnings beat the Wall Street consensus, but offered an in-line outlook.
Source: MarketWatch - 🏆 3. / 97 Read more »