Marvell's ASIC Business Faces Headwinds

Marvells stock has plummeted by twenty-five percent this year, with HSBC analyst Frank Lee advising investors to avoid the dip. Despite Marvells growing role in AI supply and strong Q2 earnings, Lee initiated coverage with a Hold rating due to potential ASIC business lag and customer delays. Marvells third-quarter earnings are due on December 2nd, with Wall Street maintaining a Moderate Buy rating, albeit with slightly reduced enthusiasm.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.