We recently compiled a list of the 10 Stocks Drop Double Digits as Investor Caution Lingers. In this article, we are going to take a look at where Marvell Technology, Inc. (NASDAQ:MRVL) stands against the other  stocks.

The stock market fell into the negative territory on Thursday, as investor caution lingered over the ongoing trade tensions among some of the world’s largest economies.

The tech-heavy Nasdaq posted the largest loss, down 2.61 percent, followed by the S&P 500 with 1.78 percent, and the Dow Jones with 0.99 percent.

Ten companies mirrored a broader market decline, dropping by as much as double digits during the end of the session. In this article, we named Thursday’s 10 biggest losers and detailed the reasons behind their decline.

To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

An assembly line in a semiconductor factory, with workers at their stations.

Marvell Technology, Inc. (NASDAQ:MRVL)

Marvell Technology, Inc. (NASDAQ:MRVL) dropped its share prices by 19.81 percent on Thursday to end at $72.28 apiece as investors soured on the company’s weak outlook guidance.

For the first quarter of the year, Marvell Technology, Inc. (NASDAQ:MRVL) said it expects sales to hit $1.88 billion, just shy of the $1.87 billion as expected by analysts.

In a research note, Barclays analyst Tom O’Malley said that solid numbers missed the high watermark set by the rest of the AMZN supply chain.

“While the company continues to sound good re: the future of their ASIC prospects, the AMZN numbers near term are a bit lower, which is the real sticking point for a market punishing anything not perfect in AI,” he added.

Marvell Technology, Inc. (NASDAQ:MRVL) is a chipmaker known for creating customized chips and hardware used in data centers, networking, and infrastructure.

Overall MRVL ranks 2nd on our list of Thursday's biggest losers. While we acknowledge the potential of MRVL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MRVL but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

 

Disclosure: None. This article is originally published at Insider Monkey.