Marvell Technology Group LtdMarvell's stock fell 8.2% despite strong results because the Google custom-chip revenue is delayed until fiscal 2029, disappointing investors.

Marvell Technology, the data-infrastructure chip specialist, fell about 8.2% to $222.51 before Friday's opening bell after reporting strong quarterly results but revealing that its custom-chip deal with Google will not become a major revenue engine until fiscal 2029. The company's second-quarter revenue hit a record $2.739 billion, up 37%, with data-center sales surging 46% to roughly $2.17 billion. Marvell now expects about $12 billion in fiscal 2027 revenue and approximately $18 billion in fiscal 2028, and its third-quarter target of $3.15 billion points to another 15% sequential leap. However, the stock trades 91.8% above its GF Value estimate of $116.01, and data centers already account for roughly 79% of total sales, leaving investors to wait for the promised payoff.
Marvell Technology Group LtdMarvell's stock fell 8.2% despite strong results because the Google custom-chip revenue is delayed until fiscal 2029, disappointing investors.
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