Marvell Technology and Flex to Replace Pool Corp and Campbell's in S&P 500 on June 22
Marvell Technology and Flex will enter the S&P 500 on June 22, replacing Pool Corp and The Campbell's Company. Both stocks rose in extended trading after the announcement.
benzinga.comMarvell Technology and Flex will join the S&P 500 index on June 22. The two companies will replace Pool Corp and The Campbell's Company. , headquartered in Santa Clara, California, makes parts and products needed for the AI infrastructure boom.
The semiconductor company was founded in 1995 to produce parts for spinning disk drives. Nvidia invested $2 billion into Marvell, and Nvidia CEO Jensen Huang said Marvell could be the "next trillion-dollar company" when discussing the two chipmakers' partnership. Marvell stock rose 5% in extended trading.
U.S. The company provides manufacturing services to Apple and Nvidia.
The additions highlight the growing importance of the technology sector to the stock market. Veeva Systems, AppLovin, Datadog, DoorDash, and Robinhood are other technology companies that have been added to the index in recent years.
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