Why Marvell Technology Rallied in September
Shares of Marvell Technology (NASDAQ: MRVL) rallied 33.7% in the month of September, according to data from S&P Global Market Intelligence.
Marvell came off a bad month of August, when the stock fell 21.8% following its second quarter earnings report, on which management gave softer-than-expected quarterly guidance due to what it said was "lumpiness" in its custom AI XPU business.
However, the stock bounced back in September, as investors appeared to conclude the long-term outlook for AI, including Marvell's XPU and networking opportunity, remained bright.
Source Fool.com
