Earnings report and performance guidance met expectations but did not exceed them. Marvell Technology (MRVL) shares plunged 11%, and Nvidia (NVDA) also fell 4.8%.

Against the backdrop of the ongoing AI boom, market expectations for chip stocks have already been pushed to a fairly high level. Even if results simply hit targets without beating expectations, it can trigger a rush of profit-taking. This also reflects how highly sensitive the current U.S. tech sector is to earnings, with investors’ sentiment leaning toward caution.

For the crypto market, volatility in U.S. tech stocks can also spill over into risk appetite. Related AI-themed tokens may be affected by sentiment in the near term, so it’s important to watch for changes in the overall market outlook.

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