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Pathikrit Bose

Marvell Stock Set Several New Records in Q2. What It Will Take for MRVL to Hit New Highs.

Marvell MRVL Google

Custom chipmaker Marvell Technology (MRVL) came out with a marvellous set of numbers for second quarter of 2027. It ticked all the boxes of a company operating in the fast-growing ASIC market of the AI infrastructure buildout: double beat on both revenue and earnings, record revenues, solid demand, and guidance raise for the current and next year.

Yet, the shares are down more than 14% since the Aug. 27 results, as investor expectations were not met, apparently. A $120 billion custom chip deal with Alphabet's (GOOG) (GOOGL) Google spread over several years spooked investors, with CEO Matt Murphy revealing that material revenue flow from the deal will start from fiscal 2029.

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