For Marvell, expectations had already become extremely high after the Google custom-silicon deal and its huge YTD rally. The fundamentals remain strong, but investors learned that the bigger Google revenue contribution may take longer to materialize, so the market reset its timeline and valuation.
My takeaway is simple: earnings are about the gap between reality and expectations. NVIDIA raised expectations for the future, while Marvell pushed some of that upside further out. I wouldn't automatically see MRVL's selloff as a broken thesis—it may simply be a valuation and timing reset.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
