--- title: "Marvell shares tumble 8% as outlook underwhelms despite 37% revenue growth" type: "News" locale: "en" url: "https://longbridge.com/en/news/297306908.md" description: "Marvell Technology shares fell 8% in premarket trading despite beating Q2 revenue expectations with a 37% year-over-year increase to $2.7 billion. The decline occurred because the company's raised fiscal 2028 outlook, projecting ~$18 billion in revenue, failed to meet elevated investor hopes fueled by a recent Google partnership. While AI demand remains robust, Goldman Sachs noted high prior expectations and maintains a neutral rating due to valuation concerns." datetime: "2026-08-28T10:19:13.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/297306908.md) - [en](https://longbridge.com/en/news/297306908.md) - [zh-HK](https://longbridge.com/zh-HK/news/297306908.md) generator: "portal-rs" --- # Marvell shares tumble 8% as outlook underwhelms despite 37% revenue growth An aerial view of Marvell Headquarters in Santa Clara, California, United States on June 2, 2026. Tayfun Coskun | Anadolu | Getty Images Marvell Technology shares fell 8% in premarket trading despite a second-quarter revenue beat, as its raised fiscal 2028 outlook failed to meet investors' elevated expectations. The chipmaker said it now expects revenue to grow about 50% year-on-year to around $18 billion, higher than its previous forecast of $16.5 billion. Revenue rose 37% to $2.7 billion in its fiscal second quarter. That came in $39 million above the company guidance provided in May. Marvell, which makes networking, connectivity and custom chips used in AI data centers, offered limited detail on its fiscal 2028 outlook, dampening investor sentiment after hopes that a Google partnership worth up to $12.2 billion in shares would further boost earnings. The stock was last trading down 8%. It's up 184% this year, buoyed by demand for its products used in AI infrastructure. Marvell's Chairman and CEO Matt Murphy said the results were driven by continued strong demand across the company's data center portfolio, where revenue growth accelerated to 46% year over year. "AI-related bookings remain exceptionally robust, and we expect our revenue growth to accelerate further through the remainder of fiscal 2027," Murphy added. The Google partnership, announced last week, allows the tech giant to buy up to 58.97 million Marvell shares at $206.58 each, subject to purchase targets through fiscal 2033. Marvell said the agreement covers products that work with Google's TPU systems, including AI inference chips, storage controllers and network interface controllers. Goldman Sachs analysts noted "high investor expectations" ahead of the quarter. "We believe investor expectations were elevated heading into the quarter based on robust spending at key customers, as well as the previously disclosed Google relationship," the analysts said in a Thursday note. The results were an "incremental positive" for the stock, they added. Goldman Sachs remains neutral on Marvell as the investment bank noted that it trades at a higher valuation than its peers and there is less certainty about its ability to add custom-chip customers. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news. ### Related Stocks - [MRVL.US](https://longbridge.com/en/quote/MRVL.US.md) - [MVLL.US](https://longbridge.com/en/quote/MVLL.US.md) - [GOOGL.US](https://longbridge.com/en/quote/GOOGL.US.md) - [GOOG.US](https://longbridge.com/en/quote/GOOG.US.md) - [GGLS.US](https://longbridge.com/en/quote/GGLS.US.md) - [GGLL.US](https://longbridge.com/en/quote/GGLL.US.md) - [GOOW.US](https://longbridge.com/en/quote/GOOW.US.md) - [GOOY.US](https://longbridge.com/en/quote/GOOY.US.md) - [GOU.US](https://longbridge.com/en/quote/GOU.US.md) - [GOOX.US](https://longbridge.com/en/quote/GOOX.US.md) - [GOOP.US](https://longbridge.com/en/quote/GOOP.US.md) - [MAGX.US](https://longbridge.com/en/quote/MAGX.US.md) - [MRVU.US](https://longbridge.com/en/quote/MRVU.US.md) - [GS.US](https://longbridge.com/en/quote/GS.US.md) - [W4VR.SG](https://longbridge.com/en/quote/W4VR.SG.md) ## Related News & Research - [Google employees are already testing the next Gemini Flash AI model](https://longbridge.com/en/news/297235892.md) - [Google Is Getting Paid in Marvell Stock Warrants for Buying Marvell's Chips](https://longbridge.com/en/news/296666713.md) - [How to Play MRVL Stock Now as Marvell Technology Expands Its Relationship With Google](https://longbridge.com/en/news/296708030.md) - [AI’s memory crunch is coming for Android apps](https://longbridge.com/en/news/297202280.md) - [Google staff turn to Gemini 3.8 Flash as AI costs mount](https://longbridge.com/en/news/297283362.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**