The Hidden Reason Why Wall Street Is Still Bullish on Credo Stock

Credo Technology (CRDO) is up 77.9% year-to-date (YTD). The last few days have been tough for investors, with the stock down nearly 12% so far this week. The volatility would scare investors, especially considering how the market could just collapse if memory demand alone stabilizes. If you're a CRDO shareholder and were rethinking holding the stock, BNP Paribas provided exactly the reason to continue doing so.

BNP Paribas analyst Karl Ackermann recently maintained a positive outlook on Credo, expecting it to remain a key beneficiary of the AI infrastructure buildout. The analyst cited the adoption of Credo's copper and optical connectivity solutions by hyperscalers as a reason for his bullish view. He noted that products such as Active LED cables and OmniConnect gearboxes have tripled Credo's total addressable market (TAM) to over $10 billion in just 18 months. Ackermann further highlighted that Credo is involved with five of the six largest cloud computing companies, including Amazon (AMZN), Microsoft (MSFT), Meta (META), Oracle (ORCL), and xAI, a subsidiary of SpaceX (SPCX), stressing the firm's growing importance in the AI supply chain.

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Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/hidden-reason-why-wall-street-183720820.html)