Marvell Technology (MRVL) Stock Tumbles on Amazon and Microsoft Fears as AI Growth Story Gets Re‑Priced
Marvell Technology shares fell as much as 10% intraday on December 8 after Benchmark downgraded the stock, citing likely losses of Amazon’s Trainium 3 and 4 chip designs and concerns Microsoft could shift custom silicon work to Broadcom. The stock closed about 7% lower at $92.61. Zacks, meanwhile, upgraded Marvell to “Strong Buy” the same day, citing rising earnings estimates.