Why Marvell Technology Sank Today

Shares of Marvell Technology (NASDAQ: MRVL) fell as much as 10.1% on Monday, before recovering to a 7.5% decline as of 12:46 p.m. EDT.The company reported better-than-expected third-quarter earnings last week, leading to a rise; however, one analyst threw cold water on the recent jump today, raising the perennial question of whether Marvell has lost a custom XPU contract for Amazon's (NASDAQ: AMZN) next-gen Trainium chips.Today, sell-side research analysts at Benchmark downgraded Marvell to a "Hold" rating from "Buy," while withdrawing a specific price target. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool