Credo Technology Group shares rose more than 8% in early trading on Wednesday, gaining $14.49 to $186 from Tuesday's close of $171.51 and giving the company a market value of about $35.3 billion. The rebound followed a selloff in AI connectivity and optical stocks, and Rosenblatt Securities kept its $235 price target, citing Credo's OmniConnect memory technology demonstration and strong recent results. Sentiment also improved after SpaceX and Super Micro Computer reported results that eased worries about slowing AI spending. For its fiscal first quarter of 2027, Credo reported revenue of $479 million, up about 115%, and forecast second-quarter revenue of $525 million to $535 million. The stock remains about 40% below its peak and trades at about 61 times trailing earnings.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Credo Technology Stock Jumps 8 % as AI Connectivity Names Rebound and Rosenblatt Reaffirms Its $235 Target
Read the original on ibtimes.com.au ↗
Keywords
artificial intelligencesemiconductorsearnings
Open a keyword to see other news on the same topic.
Related tickers and likely impact
NVDA
• NeutralNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.2T |
| Close on 10/20/2026 | 216.47 |
| Change that session | -0.29% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Credo Technology Crumbled By 15% Over 3 Months But Has 80% Gains In Store According to Two Wall Street Firms
Credo Technology (CRDO) trades at $171.51, below Wall Street's average target of $279.09, which implies 62.7% upside. The stock fell about 20% in one session after its fiscal Q1 2027 report, even though revenue of $479.0M rose 114.7% and beat consensus, because GAAP gross margin slipped to 64.5% amid acquisition-related charges from the DustPhotonics deal. Stifel and J.P. Morgan both set $310.00 targets, and none of the 20 analysts rate the stock Sell. The stock is up 19.2% year to date versus 12.82% for the S&P 500, and the next test is the fiscal Q2 report, where consensus expects revenue of $531.65M.
- Prediction: Sandisk Stock Will Soar After Oct. 29. Here Are 379 Billion Reasons Why
Sandisk (SNDK) has fallen 32% since early July after rising 858% in the first half of 2026, but the article argues the slide reflects concerns about the sustainability of AI infrastructure spending rather than the company's financial performance. Sandisk guided fiscal 2027 first-quarter revenue to $10.3–$10.8 billion and non-GAAP EPS to $45.00, implying 357% year-over-year revenue growth at the midpoint. TrendForce expects NAND flash industry revenue to reach $379 billion in 2027, up 40%, and Counterpoint Research puts Sandisk's NAND market share at 11%. The stock trades at 8 times forward earnings versus 19 for the S&P 500. The author expects results due October 29 to beat expectations and could lift the stock.
- History Says This Will Happen to Sandisk Stock Heading Into Its Oct. 29 Report
Sandisk (SNDK) stock is up 478% so far in 2026, driven by strong demand for its NAND flash memory from AI data centers and a supply shortage that has boosted revenue and profit. In its fiscal 2026 fourth quarter (ended July 3), revenue rose 372% year over year and earnings per share reached $43.97, yet the stock trades at a P/E ratio under 19 as investors worry the memory upcycle may end. To address this, Sandisk has signed eight new business model (NBM) agreements with large customers that guarantee price floors and purchase volumes for several years. Management guided for midpoint revenue of $10.5 billion (up 357%) and EPS of $45 for fiscal Q1 2027, versus Wall Street expectations of a 363% increase and $46.27 EPS; results are due Oct. 29.
- ASML Has Incredible News for Nvidia Stock and Micron Stock Investors
ASML, which holds a monopoly on the EUV lithography machines used to make advanced AI chips, reported strong third-quarter 2026 revenue and earnings growth and said it is struggling to meet customer demand. It sold 113 new lithography systems in the quarter, up from 66 a year earlier. Management said demand for AI hardware will outpace supply through at least 2028, and customers are seeking orders for 2029 and 2030. The article argues this supports a favorable pricing backdrop for Nvidia and Micron, even though their shares have fallen 9% and 13% respectively since Oct. 6. Micron's revenue rose 256% to $133.19 billion in fiscal 2026.
- Prediction: Nvidia’s Road to $1 Trillion in Annual Revenue Could Transform Its Stock
Nvidia reported $96.22B in quarterly revenue, up 105.8% year over year, and guided to $108B for the current quarter, yet the stock is up only 15.08% year to date. The article says reaching $350 in 2027 would require a 63.5% gain from the $214.13 price, and its model's central estimate is $258.42. Key risks include investor worries about AI funding, $279B in supply commitments, and guidance that excludes China data center compute revenue. The author says this scenario depends on Vera Rubin ramping as the fastest launch in Nvidia's history, supply easing and markets not pricing in a funding scare, calling $350 'a stretch, but a credible one.'
- Prediction: TSMC Stock Is Going to $1,200 by 2030
The article predicts TSMC stock could reach $1,200 by 2030, nearly threefold within just over four years, after the company's third-quarter results beat expectations. Q3 revenue rose 41% year over year to $46.7 billion, net profit margin reached 51.1%, and EPS climbed 57% to $4.60. TSMC expects Q4 revenue of $53.3 billion, a 58% increase, supported by strong demand for advanced chips used in AI data centers, the ramp-up of its 2nm node, and reportedly planned price increases. The author estimates EPS of $29.82 in 2028 and $60.98 in 2030; at 20 times earnings, the stock could reach $1,219.
Related markets
Latest news
- Bank Profits Surge
The 9-month 2026 results show many banks continued to grow profits, with some posting record quarterly earnings. VPBank's pre-tax profit reached nearly VND 30,000 billion, up nearly 47%, equal to its full-year 2025 result and about 72.4% of its 2026 plan; Q3 pre-tax profit topped VND 11,000 billion. Techcombank posted VND 28,900 billion (up 23.7%), while LPBank reported VND 10,421 billion (up nearly 9%). SSI forecasts pre-tax profit of its monitored banks to rise 19.5% in 2026 before slowing to 15.4% in 2027, pressured by narrowing net interest margins and rising credit risk provisions. It also expects system-wide credit growth of 16-17% in 2027 and 17.9% for the monitored banks.
- World's Largest Gold Fund Dumps Over 10 Tonnes of Gold as Prices Slide
SPDR Gold Trust, the world's largest gold fund, continued net selling of nearly 12 tonnes of gold in the 22/10 session, bringing total sales over 2 sessions to nearly 15 tonnes and cutting its holdings to about 1,046 tonnes. Spot gold fell more than 2.8% to around USD 4,025 per ounce at the close of 22/10, and briefly dipped below USD 4,000 per ounce in the morning session of 23/10. Tensions in the Middle East pushed crude oil prices higher, raising concerns about inflation and further Fed tightening, and gold has still not attracted sustained safe-haven demand even as US Treasury yields fell. US September CPI rose 0.6% month on month and 3.7% year on year, while PPI rose 1.3% and 6.3%. Markets price about an 84% chance the Fed holds rates steady at its 27-28/10 meeting and a 16% chance of a 25 basis-point increase; September PCE data due on 29/10 is the next key factor to watch.
- Gold Prices Continue to Fall
On the morning of 23/10, domestic gold prices kept falling, with SJC bar prices varying by seller and the premium over world gold widening. Công ty TNHH Vàng bạc đá quý Sài Gòn listed SJC bars at VND 139-142 million per tael (buy-sell), down VND 300,000; Phú Quý was at VND 138-141.8 million, down VND 500,000; and Mi Hồng at VND 140-141.5 million, down VND 800,000. Gold rings also fell by varying amounts, with DOJI at VND 138-142 million and Phú Quý at VND 138-141 million per tael. World gold dropped USD 129 to around USD 3,992 per ounce, equal to about VND 125.3 million per tael, leaving SJC bars about VND 16.7 million per tael above the world price. The State Bank's central rate was set at 25,627 VND/USD, down 5 dong, while Vietcombank quoted 25,660-26,040 VND/USD (buy-sell).
- Company Linked to Billionaire Pham Nhat Vuong Announces Major Good News
VEFAC (ticker VEF), a Vingroup subsidiary, posted Q3 net revenue of nearly VND 77 billion, up 67% year on year, but a gross loss of about VND 27 billion as cost of sales from its exhibition business exceeded revenue. Q3 profit rose mainly thanks to a gross gain of about VND 65 billion from transferring some schools in a project to a partner, while financial income reached over VND 388 billion, mostly from loan and investment income. For the first nine months of 2026, after-tax profit was nearly VND 865 billion, down about 94% from VND 15,418 billion in the same period of 2025, as the prior year included large gains from transferring part of the Vinhomes Global Gate project. As of 30/9/2026, total assets stood at over VND 31,905 billion, up 36% from the start of the year, while total liabilities exceeded VND 24,364 billion, with short-term customer advances rising from VND 411 billion to over VND 8,373 billion.
- Lotte and Phat Dat Officially Break Ground on VND 60,000 Billion Mega Project in Thu Thiem 'Golden Land'
A joint venture between Lotte Group (South Korea) and Phát Đạt (HoSE: PDR) officially broke ground on 23/10 on Lotte Eco Smart City Thu Thiem in the Thu Thiem New Urban Area, HCMC, with total investment of about VND 60,000 billion. The project covers nearly 7.5 ha and will combine Grade A offices, retail, services, accommodation and housing, adjoining the central plaza and central lake of Thu Thiem. Phát Đạt holds 35% of Lotte Properties HCMC, the project developer, and will develop the housing blocks along with two towers (2-1 and 2-3) with about 219,722 m2 of floor area, while Lotte handles block 2-5. Lotte Properties HCMC paid VND 17,569 billion in land-use fees on 31/7/2026, and Phát Đạt completed its VND 7,666 billion payment to take its 35% stake. MB is funding all of Phát Đạt's capital contribution, while VietinBank and BIDV also support the project.
- International Business : Global stocks nosedive as Meta dents AI optimism
Global stocks retreated as tech earnings failed to ease concerns about the AI outlook, with MSCI's All-World index set for its largest daily fall in two weeks, down 0.4 per cent. Meta beat third-quarter revenue expectations, but its plan to issue non-voting stock revived worries about its mounting capital commitments, and a New Mexico judge ordered it to pay a $25 billion penalty in a data privacy case. Brent crude rose nearly 3% to $112 a barrel, near a five-month high, after more Houthi attacks in Saudi Arabia raised supply risks. Investors moved into government bonds, pushing the US 10-year yield down to 5.05%, below France's for the first time in 13 years, while French yields have climbed above 5% amid concerns over social unrest and debt. The France-Germany 10-year spread reached 177.7 basis points, its widest since 2011, while gold fell 1.8% to $4,070 an ounce.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.