Qualcomm Drops 8% on ByteDance ASIC Deal, Marvell Falls 10% as Custom-Silicon Stocks Slide

Shares of Qualcomm (NASDAQ:QCOM | QCOM Price Prediction) are down 8% to $201 in Tuesday morning trading, while Marvell Technology (NASDAQ:MRVL) shares are off 10% to $260. The catalyst centers on news that ByteDance is moving forward with a custom AI silicon (ASIC) deal that touches Qualcomm directly, reshaping the merchant custom-silicon narrative across the ... Qualcomm Drops 8% on ByteDance ASIC Deal, Marvell Falls 10% as Custom-Silicon Stocks Slide