Chipmaker Marvell postpones investor day citing macroeconomic uncertainty; narrows revenue forecast

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(Reuters) -Networking and custom AI chipmaker Marvell Technology said on Tuesday it is postponing a previously scheduled investor day conference, citing a “dynamic macroeconomic environment,” as global trade tensions generate economic uncertainty.

Shares of the chipmaker were down more than 6% after the bell.

The company also narrowed its forecast range for the first quarter of fiscal 2026, but maintained the midpoint of its outlook.

Net revenue is now expected to be approximately $1.875 billion, within a range of plus or minus 2%, compared to the prior range of plus or minus 5%.

Global chip companies have taken a battering due to U.S. President Donald Trump’s shifting trade policy, complicating the outlook for semiconductor and computing giants.

Trump paused plans on April 9 for sweeping import charges on all countries for 90 days to allow negotiations to take place, after introducing a baseline 10% tariff on all U.S. imports and additional reciprocal duties on major trading partners.

Marvell’s Chief Operating Officer Chris Koopmans said in March that the chipmaker had not seen any signs of tariffs — now or expected — affecting its data center business.

AI pioneer Nvidia has warned of a $5.5 billion hit after Washington restricted exports of its AI processor tailored for China, while Dutch chip-making tools giant ASML raised doubts about its outlook.

(Reporting by Arsheeya Bajwa in Bengaluru and Juby Babu in Mexico City; Editing by Alan Barona)