Marvell Technology Inc. reported its fourth-quarter earnings, surpassing Wall Street's expectations with an earnings per share of $0.60, against the consensus estimate of $0.59, and revenue of $1.82 billion, up 27% year-over-year and above the $1.8 billion forecast. Despite these positive results, Marvell's stock experienced a significant decline of over 15% in after-hours trading, reflecting investor disappointment over the company's revenue forecast for the current quarter, which was set at $1.875 billion, slightly above the expected $1.865 billion. The company also provided an EPS guidance of $0.56 to $0.66 for the current quarter. The company's data center business was a key driver of its revenue, generating $1.365 billion, a 78% increase from the previous year. AI now drives over 50% of Marvell's business, with data centers making up 75% of Q4 revenue. CEO Matt Murphy highlighted the company's progress in custom AI silicon programs, which have entered volume production and are expected to contribute to future growth. He also expects cloud and AI growth to offset seasonal declines in on-premise demand, guiding mid-single-digit sequential growth for data center revenue. However, other segments of Marvell's business showed mixed results, with enterprise networking down 35%, carrier infrastructure and consumer segments both down 38%, and the automotive and industrial segment up by 4%. Marvell's performance had a ripple effect on the broader tech sector, with stocks like Nvidia, Broadcom, and Advanced Micro Devices also experiencing declines. The market's reaction underscores the high expectations placed on AI-related companies and the sensitivity of their stock prices to quarterly performance and future guidance. Marvell's stock had its worst day since 2001, dropping 19.3%.