Shares of Marvell Technology (NASDAQ: MRVL) have been heading lower following the release of the company's fiscal 2023 third-quarter earnings report (for the three months ending Oct. 29, 2022) on Dec. 1. More specifically, Marvell's storage customers are reducing inventories, reflecting the weak demand environment. The company's adjusted net income jumped 32% year over year to $0.57 per share.
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