Why did MRVL move on Jun 5, 2026?

On June 5, 2026, Marvell (MRVL) stock dropped 10% amid a massive, sector-wide semiconductor sell-off. The primary catalyst was a post-earnings rout and weaker-than-expected sales outlook from rival chipmaker Broadcom, which triggered industry-wide fears that AI demand might not keep pace with massive capital spending. Additionally, a stronger-than-expected U.S. jobs report for May sparked inflation worries and raised the likelihood of a Federal Reserve interest rate hike, further pressuring high-multiple tech stocks.