Intel, Arm, and Marvell Have Each Been Cut in Half Since June. Only 1 Is a Stock I'd Buy Now.

Key Points:

• Intel, Arm Holdings, and Marvell Technology all hit record stock closes in June 2026 but have since lost over half their value, with Intel down about 59%, Arm about 56%, and Marvell about 50% as of early November.
• Intel's Q3 revenue rose 21% year-over-year, but its Q4 earnings outlook is weak due to a projected 20%+ drop in PC chip revenue, with challenges expected to persist until mid-2027; its stock trades at roughly 36 times 2026 earnings.
• Arm reported 27% revenue growth and 33% earnings growth in Q2 fiscal 2027, but its royalty revenue growth slowed sharply to 8%, raising concerns about future momentum; its stock trades at about 56 times expected earnings for fiscal 2028.
• Marvell stands out with accelerating revenue growth, forecasting around 52% year-over-year growth in Q3 and a 45% increase in adjusted earnings per share; it recently agreed to acquire Lumentum Holdings in an all-stock deal and trades at about 19 times expected fiscal 2028 earnings.
• Given Intel's profit decline and Arm's royalty slowdown, Marvell is considered the most attractive buy among the three, supported by its accelerating sales growth and relatively lower valuation.