By Josh Beckerman
Shares of Marvell Technology declined as the chip maker postponed its investor day, citing the uncertain macroeconomic environment.
The stock fell 4.6%, to $58.42, in after-hours trading Tuesday. It has slipped about 45% since the beginning of the year.
Marvell, which is moving the event to a future date in calendar 2026 from June 10, also said it would host a June 17 webinar focused on the future of custom silicon technology for AI infrastructure.
The Wilmington, Del., company reaffirmed the midpoint of first-quarter revenue guidance and narrowed its range. It expects revenue of about $1.875 billion, within a range of plus or minus 2%.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
May 06, 2025 19:06 ET (23:06 GMT)
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