Marvell Stock Pulls Back After Investor Day Sets $80 Billion FY31 Revenue Midpoint

Marvell Technology (NASDAQ: MRVL) shares fell 2.18% to $280.75 in Wednesday premarket trading, trimming part of Tuesday’s 5.81% advance after the chipmaker unveiled substantially higher long-term financial targets at its Investor Day in New York. The key update was Marvell’s decision to raise its fiscal 2028 revenue target to about $20 billion from a prior $18 billion.

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