Investing.com -- Shares of Marvell Technology (NASDAQ:MRVL) fell 6.5% following the company’s announcement that it would postpone its Investor Day, initially scheduled for June 10, 2025, to a date in 2026, citing the current uncertain macroeconomic environment. Despite this, the semiconductor leader reaffirmed the midpoint of its first-quarter fiscal 2026 revenue outlook and narrowed its guidance range.
The decision to delay the Investor Day was accompanied by a commitment to host a webinar focused on the future of custom silicon technology for AI infrastructure, aligning with Marvell’s annual internal senior technical leadership conference. The webinar, scheduled for June 17, 2025, aims to showcase advances in Marvell’s technology platform and discuss the rapidly evolving AI technology landscape, as well as the opportunities for custom silicon.
Marvell’s Chairman and CEO, Matt Murphy, stated, "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."
In terms of financial outlook, Marvell has now projected net revenue to be approximately $1.875 billion, with a range of +/- 2%, which is a narrower range compared to the previous +/- 5%. This update reaffirms the company’s revenue outlook for the first quarter of fiscal 2026, which was initially provided on March 5, 2025. The consensus among analysts sees first-quarter revenue of $1.88 billion.
Investors appeared to react to the postponement of the Investor Day, an event typically used to communicate company strategy and financial goals, as a signal of caution amidst global economic uncertainty. The narrowing of the revenue guidance range, however, indicates a more precise forecast from the company, which could be seen as a positive indicator of Marvell’s business performance.
