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Sales will cost around $ 1.88 billion in the first tax quarter, which takes place until April, the flea manufacturer announced on Wednesday. Although this complies with the average estimate of analysts, some projections varied up to up $ 2 billion.
Marvell’s shares fell 17% in trade before the New York scholarships opened on Thursday. They had decreased by 18% this year and closed $ 90.14.
Marvell was considered a key beneficiary of the construction of IT of artificial intelligence, and this increased expectations for the flea manufacturer. Three months ago, the company gave better than expected results that led its actions to a record.
The company based in Santa Clara, California, provides flea design services, helping the main technological customers to develop their own data center semiconductors. These so-called hyperscalers have strengthened efforts to produce internal processors, aimed at refining their computer networks for artificial software and services. Amazon.com Inc. is one of Marvell’s largest customers, according to data compiled by Bloomberg.
The companies related to AI have suffered a stock exchange this year after investors feared that customers slow their expenses. The Chinese startup Deepseek added to the concerns when she published an AI model which, according to him, was relatively cheap to produce, reporting that the industry may not need so expensive.
“Investors were already very” tight “on AI names in recent weeks,” said Tore Svanberg, analyst at Stifel Financial Corp., in a note. Marvell’s report “probably does not help to calm these nerves”.
Broadcom Inc., another flea manufacturer linked to the overvoltage of the AI, also dropped following Marvell’s results. Its stock fell by 3.5% trade after opening hours. Broadcom is expected to publish his own quarterly report Thursday.
Marvell expects a profit of 56 cents at 66 cents per share in the first quarter, excluding certain articles. Analysts had projected 60 cents.
The benefit has increased to 60 cents per share on this basis in the fourth quarter. Analysts had estimated 59 cents. Income increased by 27% to $ 1.82 billion, exceeding the projection of $ 1.8 billion.
