Marvell Technology shares dropped 37% in July as investors sold off semiconductor stocks amid growing doubts about the payoff from massive artificial intelligence spending. The sell-off erased a cumulative $1 trillion in market value across the semiconductor sector, with Marvell also pressured by an Erste Group downgrade from buy to hold. Despite the decline, Marvell's price-to-earnings ratio remains around 64, well above the tech sector average of 34. The company is set to report second-quarter fiscal 2027 results on August 27, with guidance calling for revenue of $2.7 billion and non-GAAP earnings of $0.93 per share.
Marvell Technology Group Ltd
NVIDIA Corporation