Quick Read – Hyperscaler capex revision fears triggered a two-day chip selloff, cutting 31% from Marvell stock in one month despite its 125% year-to-date run. – MRVL’s 65.75x trailing P/E and beta of 2.2 amplify its selloff, while AVGO’s modest 10% YTD gain cushions it from…
eper losses. – Marvell Technology CEO Matt Murphy raised fiscal 2027 and 2028 outlooks, with record Q1 revenue of $2.4 billion and Q2 guidance implying 35% year-over-year growth. – Shares of Marvell Technology (NASDAQ:MRVL) are down 8% to $189 in Thursday midday trading, extending a sharp semiconductor selloff into a second straight session. Marvell shares have now given back 31% over the past month
The move is dragging the AI-silicon complex lower with it. Broadcom (NASDAQ:AVGO) stock is off 3% to $381, Advanced Micro Devices (NASDAQ:AMD) stock is down 5% to $505, and Intel (NASDAQ:INTC) stock is off 5% to $98. Even with the drawdown, Marvell shares remain up 125% year to date (YTD), a reminder of how parabolic the AI-hardware trade has been heading into this de-risking.
That backdrop is central to why traders are paring exposure now. AI Capex Slowdown Fears Weigh on Chips TradingKey attributes the decline to revised capital-expenditure forecasts from major hyperscale cloud providers, signaling a potential slowdown in AI spending. The same report cites intensifying competition in the custom application-specific integrated circuit (ASIC) market and a slow recovery across enterprise and carrier segments as added pressure on Marvell.