Marvell Technology is selling off following its fiscal second-quarter 2027 earnings report released after the market closed on August 27. Despite reporting record revenue of $2.739 billion, which grew 37% year-over-year and beat consensus estimates, investors appear disappointed that the company did not provide significant upside to its forecasts. While the data center segment showed strong growth of 46% year-over-year, market participants are weighing the company's steep valuation of approximately 60x forward adjusted earnings against the fact that its growth trajectory is perceived by some as lagging behind AI chip peers like Nvidia and Broadcom.