Marvell Technology, Inc. (NASDAQ:MRVL) stock fell nearly 6% in premarket trading Thursday as investors reassessed expectations for AI semiconductor stocks after Broadcom Inc. (NASDAQ:AVGO) maintained, rather than raised, its long-term AI revenue outlook.
The decline came amid broader weakness in technology stocks, with traders taking profits after a strong rally across the AI sector. Nasdaq futures fell 1.07%, while S&P 500 futures slipped 0.30% before the opening bell.
With AI valuations already reflecting aggressive growth assumptions, Broadcom’s decision to maintain its outlook triggered profit-taking across the semiconductor sector. Marvell, one of the market’s biggest AI infrastructure beneficiaries, was among the stocks hit hardest.
Technical Setup Remains Bullish But Extended
Despite Thursday’s pullback, Marvell remains in a strong long-term uptrend. The stock has gained nearly 355% over the past 12 months and continues to trade above its 20-day, 50-day and 200-day simple moving averages. The bullish “golden cross” formed in October 2025 remains intact.
