Why Marvell Technology Shares Are Moving Lower
Portfolio Pulse from Erica Kollmann
Marvell Technology's shares are trading lower after the company reported a 12% YoY decline in Q2 earnings. Despite this, the company forecasts sequential revenue growth in Q3, driven by AI and cloud infrastructure. Several analysts updated their ratings and price targets post the financial report release, with a mix of lowered and raised targets.
August 25, 2023 | 3:06 pm
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Marvell Technology reported a 12% YoY decline in Q2 earnings, leading to a drop in share prices. However, the company forecasts Q3 growth, which may offset the current negative impact.
Marvell Technology's Q2 earnings report showed a decline, which has led to a drop in share prices. However, the company's forecast for Q3 growth, driven by AI and cloud infrastructure, may help to offset this negative impact. The mixed analyst ratings and price targets also indicate uncertainty in the market.
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