Marvell’s Q2 results were objectively strong: $2.739B revenue (+37% YoY), $2.17B data center revenue (+46%), and Q3 guidance of $3.15B. AI-related bookings also remain exceptionally robust. But the stock fell roughly 7% after hours because strong results weren’t enough to satisfy expectations that were already extremely high. That’s an important lesson for traders: a company can outperform fundamentally while its stock still falls.