Marvell shares plunge 8% as AI spending concerns hit chip stocks

  • Marvell Technology shares fell as investors reduced exposure to AI-linked semiconductor stocks.
  • Marvell shares dropped 8% to $217.21 in Monday premarket trading.
  • Marvell remains about 40% above its 200-day simple moving average of $154.82.

Marvell Technology shares fell 8% to $217.21 in Monday premarket trading as investors reduced exposure to AI-linked semiconductor stocks. Nasdaq futures declined 1.69% and S&P 500 futures fell 0.69%, while Broadcom, Advanced Micro Devices and NVIDIA dropped between 3% and 6%. The selloff followed renewed debate over AI development and infrastructure spending, including safety-related calls to slow the industry. Marvell is particularly sensitive because of its data-center networking and custom silicon businesses. Despite the decline, the stock remains about 40% above its 200-day simple moving average, while technical indicators show neutral momentum. Analysts maintain a Buy consensus, with an average price target of $295.25, although Benzinga Edge scores highlight strong growth and momentum alongside a low value score.

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