Despite UBS issuing a bullish report on Marvell Technology's AI business, the company's stock fell 6% to $219.28 on Tuesday morning, as rising U.S. government bond yields put pressure on the semiconductor sector. UBS analyst Timothy Arcuri estimates that if Microsoft's ASIC procurement exceeds 1 million units, it could bring an additional $1 billion to $2 billion in revenue for Marvell. Furthermore, UBS also expects Marvell's switching business revenue to reach $1.2 billion in 2027. Peers Broadcom and NVIDIA both saw their stock prices fall by 2%. Marvell is scheduled to release its Q3 FY2026 earnings report on August 27.