U.S. Stocks in Motion | Optical Communications Sector Broadly Declines; Marvell Technology (MRVL.US) Falls Over 20% Cumulatively in Two Days

Zhitong Finance APP has learned that on Friday, the U.S. optical communications sector fell broadly, with Marvell Technology (MRVL.US) down 7%, bringing its two-day cumulative decline to more than 20%; Lumentum (LITE.US) and Coherent (COHR.US) fell more than 11%, while Corning (GLW.US) fell nearly 4%. On the news front, Intel released its third-quarter earnings report, with fourth-quarter guidance missing expectations, and its share price plunged sharply, at one point falling more than 30% during the session. The company's market value evaporated by more than $137 billion, and it is expected to post its largest single-day decline on record by tomorrow's close. The company also warned that issues such as weakness in the personal computer market and rising memory prices may persist into the first half of 2027. The share price decline also affected other semiconductor companies. Shares of companies including AMD, Arm, Nvidia, Broadcom, Qualcomm and Micron also fell by varying degrees, reflecting investors' concerns about PC demand, memory costs and the short-term growth outlook for the semiconductor industry.