Credo Technology (CRDO) Climbs 6% Ahead of Next Week’s Business Updates

We recently published 10 Stocks With Massive Gains; 5 at Record Highs. Credo Technology Group Holding Ltd. (NASDAQ:CRDO) was one of the top performers on Wednesday.

Credo Technology snapped a four-day losing streak on Wednesday, jumping 6.05 percent to close at $141 apiece as investors repositioned portfolios ahead of the release of business updates next week.

In a statement, Credo Technology Group Holding Ltd. (NASDAQ:CRDO) said that its President and Chief Executive Officer Bill Brennan and Chief Finance Officer Dan Fleming would present at the 28th Annual Needham Growth Conference on Wednesday, January 14. Investors will be closely watching out for cues about its strategies and outlook for 2026.

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In the past few days of the year, Mizuho Securities issued a “buy” recommendation for Credo Technology Group Holding Ltd. (NASDAQ:CRDO), saying that the company’s recent price weakness could be a huge opportunity to load up on its shares.

This followed the company’s 20 percent drop over the past 30 days, as well as the 2.01 percent decline in just the past four trading days of the year.

According to Mizuho, the stock’s decline was “overblown” triggered by fears of a potential market share loss and losing one of its major clients, Amazon, for the spotted orange and blue cables at the latter’s data centers, versus Credo’s purple cables.

Mizuho, however, clarified that Amazon had requested Credo Technology Group Holding Ltd. (NASDAQ:CRDO) to change the cable colors for internal logistics purposes.

While we acknowledge the risk and potential of CRDO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CRDO and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.