Marvell Technology Stock Slips on Q1 Profit, Revenue Outlook
MRVLMarvell Technology(MRVL) Investopedia·2024-03-09 00:15

Key TakeawaysDemand for Marvell Technology's AI products soared in the fourth quarter, but the rest of the company's business stumbled.Sales at four of its five divisions declined in the period.The maker of integrated circuits gave first-quarter earnings and revenue guidance that missed estimates, and shares fell 7% Friday morning. Shares of Marvell Technology (MRVL) slipped 7% Friday, a day after the maker of integrated circuits posted a weaker-than-expected first-quarter outlook as soaring demand for arti ...