Marvell Technology Inc is a global semiconductor company that specializes in designing and manufacturing innovative solutions for data infrastructure
The company focuses on providing a wide range of products, including integrated circuits and system-on-chip solutions, that cater to applications in networking, storage, and processing. Marvell's technology enables efficient data transmission and storage, supporting various industries such as telecommunications, computing, and automotive. By leveraging advanced technologies, Marvell aims to drive the performance and efficiency of data centers and enterprise networks, while also contributing to the evolution of connected devices and smart technologies.
Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Entegris (NASDAQ:ENTG) and the best and worst performers in the semiconductor manufacturing industry.
Shares of networking chips designer Marvell Technology (NASDAQ: MRVL)
fell 7.9% in the afternoon session after stocks pulled back (Nasdaq -1.5%, S&P 500 -1.2%) amid fresh concerns about trade tariffs. The pullback followed comments from President Trump clarifying the scope of his administration's 25% tariffs on Venezuela. He noted that it would apply to any country that does business with Venezuela. For example, 25% is on top of the already-in-place 20% tariff on China because China imports oil from Venezuela, which could translate to a 45% tariff on some Chinese goods. This announcement could significantly raise the operating costs for affected companies and institutions.
Broadcom shares recently got a big boost after the company's strong earnings. It continues to position itself as one of the top stocks in AI investing.
While artificial intelligence will be in the spotlight at chip maker Nvidia's GTC conference this week, another technology development will be under the radar.
Some tickers were already undervalued headed into this week's plunge. Now they're long-term prospects that are just too good to pass up at their present prices.
Stocks surged Wednesday morning, with major indices poised to snap a two-day losing streak, as cooler-than-expected inflation reinforced expectations for Federal Reserve rate cuts in 2025.
