Marvell Loses Steam Despite Record Revenue Growth

Marvell Technology, a specialist in data-infrastructure chips, took an 8.2% hit to its share price before Friday's opening bell, settling at $222.51.

The company's second-quarter results were strong, with revenue smashing a record at $2.739 billion, up 37%, and data-center sales rocketing 46% to roughly $2.17 billion.

Marvell won the coveted Google custom-chip deal, but investors wanted to see immediate revenue from this agreement.

According to Reuters, Google's custom-chip deal will not become a major revenue engine until fiscal 2029, which means shareholders must now survive the wait.