Marvell's $115-billion Lumentum acquisition sends both stocks tumbling as investors question the AI megadeal
Published . Updated .
Key takeaways
Market Call
Think this story will push the stock up or down over the next three trading days? Make a free call and see what other readers think. Points are play money with no cash value.
Get these market calls by email
The week's biggest market-moving stories, Congress trades and Trump posts, with the tickers they touch. Free, one email a week.
Free. We only use your email to send the digest, never sell or share it, and every email has a one-click unsubscribe link. See our privacy policy.
This report is about AI and big tech.
Directly affected
- MRVL Marvell Technology-34.7% 30d
Named in this report.
- LITE Lumentum Holdings-27.6% 30d
Named in this report.
Indirectly affected
- QQQ Invesco QQQ-3.3% 30d
Invesco QQQ: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story.
- AIQ Global X Artificial Intelligence & Technology ETF-0.0% 18d
Global X Artificial Intelligence & Technology ETF: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story.
- MSFT Microsoft+1.8% 30d
Microsoft (prepackaged software): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story.
- GOOGL Alphabet-20.6% 30d
Alphabet (computer programming, data processing, etc.): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story.
- AMZN Amazon.com-3.6% 30d
Amazon.com (catalog and mail-order houses): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story.
- META Meta Platforms-17.6% 30d
Meta Platforms (computer programming, data processing, etc.): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| MRVL | +42.22% | +27.45% | base | after close | after close | after close | after close |
| LITE | +26.67% | +34.57% | base | after close | after close | after close | after close |
| QQQ | +5.87% | +5.02% | base | after close | after close | after close | after close |
| AIQ | +7.78% | +6.52% | base | after close | after close | after close | after close |
| MSFT | +4.85% | +4.61% | base | after close | after close | after close | after close |
| GOOGL | +14.89% | +1.62% | base | after close | after close | after close | after close |
| AMZN | +3.01% | -0.81% | base | after close | after close | after close | after close |
| META | +2.22% | +2.94% | base | after close | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Marvell's $115-billion Lumentum acquisition sends both stocks tumbling as investors question the AI megadeal Yahoo Finance
Source: Yahoo Finance
The price since 3 Nov 2026: Invesco Qqq Trust, Series 1 (QQQ) versus the S&P 500
| Company | When | Move | Status |
|---|---|---|---|
| Global X Fds (AIQ) | three days earlier | +6.52% | final price |
| Global X Fds (AIQ) | five days earlier | +7.78% | final price |
| Amazon Com (AMZN) | three days earlier | -0.81% | final price |
| Amazon Com (AMZN) | five days earlier | +3.01% | final price |
| Alphabet (GOOGL) | three days earlier | +1.62% | final price |
| Alphabet (GOOGL) | five days earlier | +14.89% | final price |
| LITE | three days earlier | +34.57% | final price |
| LITE | five days earlier | +26.67% | final price |
| Meta Platforms (META) | three days earlier | +2.94% | final price |
| Meta Platforms (META) | five days earlier | +2.22% | final price |
| MRVL | three days earlier | +27.45% | final price |
| MRVL | five days earlier | +42.22% | final price |
| Microsoft (MSFT) | three days earlier | +4.61% | final price |
| Microsoft (MSFT) | five days earlier | +4.85% | final price |
| Invesco Qqq Trust, Series 1 (QQQ) | three days earlier | +5.02% | final price |
| Invesco Qqq Trust, Series 1 (QQQ) | five days earlier | +5.87% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Maria Elvira Salazar sold Marvell Technology (MRVL), worth $1,001 - $15,000 on 24 Sep 2026. That is 40 days before publication. Filed 7 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, sold Marvell Technology (MRVL), worth $250,001 - $500,000 on 21 Aug 2026. That is 74 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Pete Sessions sold Microsoft (MSFT) (held by a spouse), worth $250,001 - $500,000 on 2 Oct 2026. That is 32 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Lisa McClain bought Microsoft (MSFT) (held by a spouse), worth $1,001 - $15,000 on 30 Sep 2026. That is 34 days before publication. Filed 12 Oct 2026. View the filing.
- Rep. Michael Rulli sold Microsoft (MSFT), worth $1,001 - $15,000 on 28 Sep 2026. That is 36 days before publication. Filed 2 Oct 2026. View the filing.
- Rep. Pete Sessions sold Alphabet (GOOGL), worth $15,001 - $50,000 on 14 Sep 2026. That is 50 days before publication. Filed 18 Sep 2026. View the filing.
- Rep. Rohit Khanna sold Alphabet (GOOGL) (held by a spouse), worth $1,001 - $15,000 on 4 Sep 2026. That is 60 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Thomas H. Kean Jr sold Alphabet (GOOGL), worth $1,001 - $15,000 on 27 Aug 2026. That is 68 days before publication. Filed 12 Sep 2026. View the filing.
- Rep. Pete Sessions sold Amazon Com (AMZN), worth $15,001 - $50,000 on 27 Oct 2026. That is 7 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Pete Sessions sold Amazon Com (AMZN) (held by a spouse), worth $100,001 - $250,000 on 2 Oct 2026. That is 32 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Amazon Com (AMZN) (held by a spouse), worth $1,001 - $15,000 on 28 Aug 2026. That is 67 days before publication. Filed 14 Oct 2026. View the filing.
- Rep. Maria Elvira Salazar sold Meta Platforms (META), worth $1,001 - $15,000 on 24 Sep 2026. That is 40 days before publication. Filed 7 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around Invesco Qqq Trust, Series 1 (QQQ)
Companies carried with this story
- QQQ Invesco Qqq Trust, Series 1
For “Marvell's $115-billion Lumentum acquisition sends both stocks tumbling as investors question the AI megadeal,” Invesco Qqq Trust, Series 1 (QQQ) is linked, with no stored direction, medium confidence. Reason on file: Invesco QQQ: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story
- AIQ Global X Fds
Global X Fds (AIQ) is linked, with no stored direction, medium confidence in the 3 Nov 2026 story “Marvell's $115-billion Lumentum acquisition sends both stocks tumbling as investors question the AI megadeal.” Reason on file: Global X Artificial Intelligence & Technology ETF: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story
- MSFT Microsoft
In “Marvell's $115-billion Lumentum acquisition sends both stocks tumbling as investors question the AI megadeal,” Microsoft (MSFT) is linked, with no stored direction, medium confidence. Reason on file: Microsoft (prepackaged software): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story
- GOOGL Alphabet
For “Marvell's $115-billion Lumentum acquisition sends both stocks tumbling as investors question the AI megadeal,” Alphabet (GOOGL) is linked, with no stored direction, medium confidence. Reason on file: Alphabet (computer programming, data processing, etc.): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story
- AMZN Amazon Com
In “Marvell's $115-billion Lumentum acquisition sends both stocks tumbling as investors question the AI megadeal,” Amazon Com (AMZN) is linked, with no stored direction, medium confidence. Reason on file: Amazon.com (catalog and mail-order houses): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story
- META Meta Platforms
In “Marvell's $115-billion Lumentum acquisition sends both stocks tumbling as investors question the AI megadeal,” Meta Platforms (META) is linked, with no stored direction, medium confidence. Reason on file: Meta Platforms (computer programming, data processing, etc.): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story
Invesco Qqq Trust, Series 1 (QQQ)
“Marvell's $115-billion Lumentum acquisition sends both stocks tumbling as investors question the AI megadeal” (3 Nov 2026) reaches Invesco Qqq Trust, Series 1 (QQQ) through this story.
What ties Invesco Qqq Trust, Series 1 (QQQ) to the headline is this: Invesco QQQ: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story
A second company, Global X Fds (AIQ), is listed for a different reason: Global X Artificial Intelligence & Technology ETF: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story
Dates in the story, and the Invesco Qqq Trust, Series 1 (QQQ) price range
AIQ traded between 61.70 and 67.40 across 14 sessions. The latest close on file is 62.94. MSFT traded between 505.00 and 551.08 across 20 sessions. The latest close on file is 507.15. QQQ traded between 680.34 and 758.19 across 20 sessions. The latest close on file is 681.22.
A simple score for Invesco Qqq Trust, Series 1 (QQQ)
46 out of 100
“Marvell's $115-billion Lumentum acquisition sends both stocks tumbling as investors question the AI megadeal” scores 46 out of 100. The score uses 1 sources, and 6 linked companies.