Movement Alert｜Credo Technology Intraday Rise 6.25%, Acquisition Completion and Strong Earnings Outlook Continue to Drive Rally

Market Focus

May 29

On May 29, Credo Technology rose 6.25% in regular trading, trading at $237.54/share, with trading volume of approximately $321 million.

On the news front, the rally was driven by the completion of an acquisition alongside robust earnings expectations ahead of the company's quarterly report scheduled for June 1 after market close. Market consensus projects quarterly revenue of approximately $432 million, representing a 169.77% year-over-year increase, with adjusted earnings per share expected at $1.03, a 273.01% surge year-over-year. Jefferies previously added Credo to its top picks list, citing the early-stage penetration of its active electrical cable business as a key growth driver. Goldman Sachs has also positioned optical networking as the next super trend within AI infrastructure, providing additional tailwinds.

Within the Semiconductors sector, individual stocks showed broad strength. Among peers, Micron Technology up 5.77%, NVIDIA up 1.11%, Intel up 0.94%, Broadcom up 4.08%, Advanced Micro Devices up 0.44%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Market consensus projects quarterly revenue of approximately $432 million, representing a 169.77% year-over-year increase, with adjusted earnings per share expected at $1.03, a 273.01% surge year-over-year. Jefferies previously added Credo to its top picks list, citing the early-stage penetration of its active electrical cable business as a key growth driver. Goldman Sachs has also positioned optical networking as the next super trend within AI infrastructure, providing additional tailwinds.</p><p>Within the Semiconductors sector, individual stocks showed broad strength. Among peers, Micron Technology up 5.77%, NVIDIA up 1.11%, Intel up 0.94%, Broadcom up 4.08%, Advanced Micro Devices up 0.44%.</p><p>(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. 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