Credo Technology Group Holding Ltd - Ordinary Shares (CRDO)
42.07
-4.66 (-9.97%)
Credo Technology Group Holding Ltd is a technology company focused on designing and manufacturing advanced semiconductor solutions that enhance connectivity and data transfer for a variety of applications
The company's innovative products are geared towards improving the performance and efficiency of data centers, high-speed computing, artificial intelligence, and telecommunications. By leveraging cutting-edge technologies, Credo aims to provide its customers with state-of-the-art integrated circuit solutions that support the increasing demand for bandwidth and speed in an ever-evolving digital landscape.
Driving the surge in Credo’s earnings and revenue was the AEC (active electric cables) segment – the company said it experienced the “inflection point” that it had expected.
Ahead of earnings, several brokerages upped their price targets for Credo, highlighting that the growing demand for artificial intelligence (AI) applications bodes well for the company.
U.S. stocks slid on Tuesday as President Donald Trump’s tariffs on major trade partners took effect, intensifying global trade tensions. The Dow Jones Industrial Average dropped 1.55% to 42,520.99, while the S&P 500 declined 1.22% to 5,778.15.
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