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Marvell Technology posted strong fiscal second-quarter financial results that beat Wall Street expectations for both earnings per share and revenue. The company reported adjusted EPS of $0.94 on revenue of $2.739 billion, driven by robust performance in its data-center segment. Furthermore, management raised its long-term revenue guidance for fiscal 2027 and 2028, citing high demand for custom artificial intelligence chips. Despite these solid operational metrics, the stock tumbled over 8% in post-market trading. Investors responded negatively due to frustration over the delayed timeline for revenue realization from Marvell's recently announced AI-chip partnership with Google. The market had priced in immediate, larger financial contributions from the custom chip alliance, leading to a swift repricing of the stock. From a technical perspective, the decline pushed the share price down toward critical support zones, stalling near its rising 100-hour moving average at $229.66, while sellers maintained temporary control over momentum. Looking ahead, traders should monitor key technical levels to gauge the stock's next directional move. Immediate support rests at the 200-hour moving average of $214.29, followed by the 100-day moving average at $211.34. A break below these floors could trigger extended selling pressure. Conversely, buyers must reclaim the $229.66 to $230.70 resistance cluster to restore bullish momentum and initiate a trend recovery.
