Marvell Stock Tumbles 10% on Delayed Google Deal Revenue

Marvell Technology Inc.'s (NASDAQ: MRVL) stock took a significant hit on Friday, falling by 10.28% to close at $216.62.

This decline wiped out an impressive $22.4 billion in market value for the company, which is already valued high due to its growth prospects.

Marvell's second-quarter revenue reached a record-high of $2.739 billion, representing a 37% increase from the same period last year.

The majority of this revenue came from data-center sales, which accounted for 79% of total sales and rose by 46% compared to the previous year.

Despite these strong numbers, investors are concerned about when the company's significant Google custom-chip deal will start generating substantial revenue.