Watch These Marvell Technology Price Levels as Stock Tumbles on Soft Sales Outlook
1. MRVL forecasts third-quarter revenue of $2.06 billion, below expectations. 2. Shares dropped nearly 17% and over 40% year-to-date due to investor concerns. 3. Support levels identified at $62, $56, and $50; $78 is a critical resistance area. 4. CEO anticipates flat data center sales, looking for stronger fourth-quarter performance. 5. Concerns over AI-driven growth and U.S. chip export restrictions impact MRVL negatively.