Marvell Technology Group is trading 4.05% down now at $178.28 as semiconductor stocks face pressure following TSMC’s updated spending outlook.
- The broader chip sector is retreating as TSMC’s increased capital expenditure plans raise concerns over rising costs and industry-wide valuation levels.
- Investors appear to be taking profits following Marvell’s recent AI-driven gains, with no specific company news acting as a counter-catalyst to the selloff.