Why Marvell Technology Stock Was Soaring Today
Marvell Technology(MRVL) The Motley Fool·2024-12-04 18:55Shares of Marvell Technology (MRVL 24.13%) were surging today after the semiconductor maker posted better-than-expected results in its third-quarter earnings report, driven in part by strong AI demand and guidance.As of 1:03 p.m. ET, the stock was up 23.6% on the news. Marvell tops estimatesYear-over-year revenue growth remained modest at Marvell as it continues to work through an earlier slowdown in the chip sector, but the company still topped estimates.Revenue in the quarter was up 7% from a year ago, or ...