MarketPR
Marvell Technology (MRVL) closed at $244.25 on September 18, erasing the 8% drop that followed its August 27 earnings report.
The stock recovered this loss without new guidance, while GAAP operating margin remains 2 percentage points below its January 2026 peak.
The August 27 report included a revenue guidance raise for fiscal 2027 to roughly $12 billion and fiscal 2028 to about $18 billion. Data center revenue, which represents 79% of the total, grew 46% year over year.
However, the stock fell more than 8% the next day, wiping out roughly $17.4 billion in market value.
Keep reading