Marvell Technology Inc MRVL shares are sliding in Tuesday’s after-hours session after the company postponed its Investor Day, citing a dynamic macroeconomic environment.
What Happened: Marvell said it’s postponing its Investor Day from June 10 to a future date in calendar 2026 due to macroeconomic uncertainty.
The company said it will hold a webinar focused on the future of custom silicon technology for AI infrastructure that aligns with its previously scheduled senior technical leadership conference. The event will be held on June 17.
“We have decided to postpone our investor day given the current uncertain macroeconomic environment. At the same time, we continue to make great progress in our custom AI silicon business and look forward to sharing updates on the expanded opportunities since our AI Day a year ago,” said Matt Murphy, chairman and CEO of Marvell.
“This topic is central to our annual senior technical leadership conference in Santa Clara on June 17th and 18th, making it an ideal time to engage with the investment community through a focused webinar.”
Marvell also reaffirmed the midpoint of its first-quarter revenue guidance of $1.875 billion. The company previously provided a guidance range of plus or minus 5%, but narrowed that range to plus or minus 2% on Tuesday.
Marvell is due to report first-quarter financial results on May 29. Analysts had been forecasting earnings of 67 cents per share and revenue of $1.99 billion, according to Benzinga Pro estimates.
MRVL Price Action: Marvell Technology shares were down 6.40% after-hours, trading at $57.30 at the time of publication on Tuesday, according to Benzinga Pro.
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