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Marvell Technology (MRVL) raised its fiscal 2028 revenue guidance to approximately $18 billion on August 27, 2026, up from $16.5 billion guided a quarter earlier, and the stock still dropped 12.3% over the two trading days that followed.
It now trades roughly 30% below its 52-week high and has fallen about 28% over three months.
The case for the stock is straightforward: a business accelerating past its own prior targets, at roughly 32 times fiscal 2028 consensus earnings.
What complicates that case is a gross margin step-down that arrived alongside the bigger revenue number.
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