Marvell Technology, Inc. (MRVL) was among the 10 stocks that dropped double digits as investor caution lingered over trade tensions. The tech-heavy Nasdaq posted the largest loss followed by the S&P 500 and the Dow Jones. Marvell Technology, Inc. dropped its share prices by nearly 20% due to weak outlook guidance. The company expects sales to hit $1.88 billion for the first quarter, falling short of analyst expectations. Barclays analyst Tom O’Malley noted that Marvell’s numbers missed the high watermark set by others in the supply chain, particularly in the area of Artificial Intelligence. Marvell Technology, Inc. is known for creating customized chips and hardware used in data centers, networking, and infrastructure. The company ranks 2nd on the list of Thursday’s biggest losers.
While Marvell Technology, Inc. shows potential as an investment, there are other AI stocks that may offer greater promise for higher returns within a shorter time frame. Investors looking for promising AI stocks trading at less than 5 times earnings can explore other options. The article suggests looking at reports on the cheapest AI stocks to consider for investment.
Overall, Marvell Technology, Inc. faces challenges in the market due to weak guidance and performance compared to its competitors in the AI sector. Investors may want to consider other AI stocks with more promising outlooks for potential returns. This article was originally published on Insider Monkey.
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