Marvell Stock Is Moving Lower Wednesday: What's Going On?

Marvell Technology, Inc. (NASDAQ:MRVL) shares are trading lower on Wednesday in possible sympathy with ASML Holding (NASDAQ:ASML), which said it cannot confirm its growth outlook for 2026 and citied macro uncertainty.

What To Know: ASML, in its earnings report, said, “Looking at 2026, we see that our AI customers’ fundamentals remain strong. At the same time, we continue to see increasing uncertainty driven by macro-economic and geopolitical developments. Therefore, while we still prepare for growth in 2026, we cannot confirm it at this stage.”

Marvell stock, along with other semiconductor names, may be slipping as investors weigh whether ASML's outlook could signal Qualcomm Inc (NASDAQ:QCOM).

In addition, ASML reported earnings per share of $6.69, beating the consensus estimate of $5.94. It also reported sales of $8.72 billion, beating the consensus estimate of $8.55 billion.

MRVL Price Action: Marvell shares closed Wednesday 2.15% lower at $70.85, according to data from Benzinga Pro.

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