What's Going On With Marvell Technology Stock Thursday? - Marvell Technology (NASDAQ:MRVL)

Marvell Technology shares fell Thursday as chip stocks tracked a broader risk-off move in technology. The Nasdaq slipped 0.63% and the S&P 500 fell 0.33%, with technology the weakest sector at about 1.1% lower. Investors trimmed exposure to growth and semiconductors as market breadth weakened. Despite the pullback, analysts highlighted Marvell’s AI-related upside. Bank of America analyst Vivek Arya said the company may be underestimating its artificial intelligence opportunity, estimating the custom AI chip and related components market could reach about $300 billion by 2030. He also estimates Marvell could capture about $30 billion of a $60–$65 billion XPU attach market by 2030. Marvell’s next catalyst is its Oct. 6 analyst day.