What's Going On With Marvell Technology Stock?
Portfolio Pulse from Erica Kollmann
Marvell Technology (NASDAQ:MRVL) shares are trading lower amid a broader sell-off in the semiconductor sector. The Nasdaq 100 fell 2.94%, driven by concerns over potential export restrictions to China, ASML's earnings miss, and comments from former President Trump about Taiwan. Marvell's stock is below its 50-day moving average and has fallen 8.98% over the past month.
July 18, 2024 | 5:58 pm
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NEGATIVE IMPACT
ASML shares fell over 12% after reporting lower-than-expected Q2 earnings and guiding a lower gross margin, contributing to the broader semiconductor sector sell-off.
ASML's disappointing Q2 earnings and lower gross margin guidance have led to a significant drop in its share price, which is contributing to the broader sell-off in the semiconductor sector.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Marvell Technology shares are trading lower due to a broader sell-off in the semiconductor sector, driven by potential export restrictions to China, ASML's earnings miss, and geopolitical concerns involving Taiwan.
The semiconductor sector is experiencing a sell-off due to multiple factors, including potential export restrictions to China, ASML's disappointing earnings, and geopolitical concerns involving Taiwan. These factors are negatively impacting Marvell Technology's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100