US Stocks Movement | Marvell Technology (MRVL.US) plunges nearly 9% as Google’s large order is booked too slowly

智通财经APP has learned that on Friday, Marvell Technology (MRVL.US) opened lower, and as of press time, its decline expanded to nearly 9%. In terms of news, Marvell Technology's revenue for the second fiscal quarter was $2.5 billion, in line with market expectations. The company's guidance for the third fiscal quarter is revenue of $3.15 billion, with a fluctuation of 5%, while analysts had previously expected revenue of $3.04 billion. The short-term guidance is slightly above market consensus. However, management emphasized that the "significant impact" of the cooperation related to Google’s custom chip order revenue will not be seen until fiscal year 2029 and later, which is much later than the market had previously expected. This has disappointed investors who originally hoped this deal would quickly contribute incremental performance.