Marvell Technology (NASDAQ:MRVL) shares descended 10% after the semiconductor services company postponed its investor day from next month until sometime next year, citing uncertainties in the macroeconomic environment.
The event had been scheduled for June 10, but the company will instead host a webinar on June 17, 2025, focused on custom silicon technology for artificial intelligence (AI) infrastructure.
The webinar will showcase advancements in the company's custom silicon platform for AI. Marvell's senior leadership will discuss emerging opportunities in the rapidly evolving AI landscape.
"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, Marvell’s Chairman and CEO.
Marvell also reaffirmed the midpoint of its fiscal first quarter 2026 revenue outlook of $1.875 billion and narrowed its guidance range to between +2% and -2%.