NASDAQ:BBIO 5 January 2026 - 16 January 2026

July 2, 2026, 4:14 PM EDT. Marvell Technology (NASDAQ:MRVL) shares dropped 10.8% to $242.78 on July 2, pacing losses in chip stocks as investors cut exposure going into the U.S. holiday. Marvell's market valuation on AI data-center revenue sits at 29 times annualized Q1 revenue, down from a 52-week high of 39 times. UBS bumped its price target to $340, pointing to growth in Compute Express Link (CXL). Despite heavy selling, Marvell is looking for Q2 revenue of about $2.7 billion and said strong AI bookings should lift quarterly growth.