Marvell plunges 18% as outlook falls short of high expectations

Marvell Technology shares plummeted more than 17% after the chipmaker's guidance fell short of some elevated buyside estimates.For the first fiscal quarter, the chipmaker said it expects sales of about $1.88 billion. That was just ahead of the $1.87 billion expected by analysts polled by LSEG. However, the outlook fell short of some buyside expectations calling for around $2 billion in revenue, disappointing investors after the stock soared 83% in 2024. The results fueled some concerns about Marvell's partn ...