SUBSCRIBERS
Marvell Tech slumps on internal probe, weaker demand
Published Sun, Sep 13, 2015 · 09:50 PM
San Francisco
MARVELL Technology Group Ltd plunged the sharpest in almost 13 years after disclosing an internal investigation of its accounting and reporting weakening demand for personal computer parts.
The chipmaker's shares dropped 16 per cent to close at US$8.84 in New York on Friday, the biggest single-day decline since October 2002. The stock has tumbled 39 per cent this year.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Technology
Brokers’ take: DBS cuts Venture Corp price target after Q1 earnings miss
Garmin’s Q1 results beat on strong demand for fitness, auto products
Foxconn’s musical chairs sound like punk rock
US sets up board to advise on safe, secure use of AI
Regulate AI? How US, EU and China are going about It
Meta’s results are best viewed through rose-tinted AI glasses