Why Marvell Stock Popped Today
Marvell's CEO is confident about the company's position, and investors have taken notice.
Overview
Shares of the semiconductor company Marvell Technology (NASDAQ: MRVL) jumped by more than 7% today after Marvell CEO Matt Murphy went on CNBC last night and said that his company has earned a lot of trust with its customers.
Murphy noted that competition in the semiconductor industry is heating up, but that Marvell is confident in its market position as it works with many AI customers. Investors appeared to take Murphy's comments to heart, even after Marvell recently missed out on a major chip deal with Amazon to rival Qualcomm.
Details
Marvell stock was up by 5.4% as of 11:56 am ET.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.