US Stock Movement | Marvell Technology (MRVL.US) plunges nearly 9% due to slow “booking” of Google’s large order

According to Jinse Finance APP, on Friday, Marvell Technology (MRVL.US) opened lower, with the decline expanding to nearly 9% as of press time. In terms of news, Marvell Technology’s second quarter revenue was $2.5 billion, in line with market expectations. The company gave third quarter guidance of $3.15 billion in revenue, with a fluctuation of plus or minus 5%, while analysts had previously expected revenue of $3.04 billion, meaning the short-term guidance is slightly above market consensus. However, management emphasized that the “significant impact” of cooperating on Google’s custom chip large order revenue will not be seen until fiscal year 2029 or later. This timing is much later than the market previously expected, disappointing investors who had hoped the deal would boost performance more quickly.