GoKawiilMarvell stock drops 8% despite raising fiscal 2028 revenue forecast to $18 billion
Marvell Technology's shares slid 8% in premarket trading even after the chipmaker beat second-quarter revenue expectations, posting $2.7 billion, up 37% year-over-year and $39 million above its own guidance. The company raised its fiscal 2028 revenue outlook to roughly $18 billion, about 50% growth, from a prior estimate of $16.5 billion, but offered scant detail on how it plans to get there.
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Investors had priced in aggressive growth for Marvell given surging demand for AI data center chips and a partnership with Google reportedly worth up to $12.2 billion in shares, so a vague long-term outlook triggered disappointment despite strong current results. The reaction shows how even substantial earnings beats can fail to satisfy markets when expectations for AI-related chipmakers have become extremely high.
- Marvell beat quarterly revenue estimates but stock fell 8% on outlook concerns
- Fiscal 2028 revenue guidance raised to about $18 billion, up from $16.5 billion
- Stock remains up 184% year-to-date on AI infrastructure demand despite the pullback
TP-Link 10GbE PCIe Network Adapter (TX401) — Marvell's growth is riding on the networking and connectivity gear that moves AI data around, and you can bring a slice of that bandwidth home. This 10 Gigabit PCIe card upgrades a desktop far beyond standard gigabit, great for fast NAS transfers and local AI workloads.
See TP-Link 10GbE PCIe Network Adapter (TX401) on Amazon → Affiliate link — we may earn a commission on purchases, at no extra cost to you. Product picked by AI based on this article; it is not a tested recommendation.Source: cnbc.com — Sawdah Bhaimiya, 2026-08-28
Published there as: “Marvell shares tumble 8% as outlook underwhelms despite 37% revenue growth”
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