Marvell slides after upbeat Q2 as 2028 outlook underwhelms despite Google deal
Marvell Technology beat Q2 revenue with a 37% YoY rise to $2.7B, but its fiscal 2028 outlook of about $18B revenue—roughly 50% growth—fell short of investors’ expectations tied to its Google tie-up, sending shares down about 8% premarket; Google could buy up to 58.97M Marvell shares at $206.58 through 2033, but Marvell provided limited forecast detail, and Goldman Sachs kept a neutral view citing valuation concerns and uncertainty about adding more custom-chip customers amid strong AI data-center demand.