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MRVL - Why Marvell Technology Sank Today

2024-05-31 17:07:37 ET

Shares of semiconductor up-and-comer Marvell Technology (NASDAQ: MRVL) sank 10.5% on Friday.

Thanks to its networking portfolio and custom ASIC (application-specific integrated chip) business, Marvell has seen bullish sentiment from investors recently. Some believe it will become a key player in the artificial intelligence (AI) race.

However, the purely AI-related portion of Marvell's business apparently didn't live up to the hype in its first-quarter results reported Thursday evening.

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Why Marvell Technology Sank Today
Stock Information

Company Name: Marvell Technology Inc.
Stock Symbol: MRVL
Market: NASDAQ
Website: marvell.com

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