We recently published 10 Stocks Delivering Massive Returns. Credo Technology Group Holding Ltd was one of the best performers on Tuesday.
Credo Technology extended its winning streak to a fourth consecutive day on Tuesday, jumping 9.16 percent to close at $134.72 apiece as investor sentiment was bolstered by a highly optimistic outlook for this year and the next, with revenues targeted to more than triple year-on-year.
In a statement, the company said it expects revenues to grow by “more than 200 percent year-over-year” amid the rapidly growing demand from the AI sector.
Credo Technology Group Holding Ltd also released preliminary results on its third quarter earnings performance ending January 31, with expectations of $404 million to $408 million in revenues, or above the high-end of its previous guidance of $335 million to $345 million.
Official results are scheduled for release after market close on March 2.
In other news, Credo Technology Group Holding Ltd announced that its PCIe 6.0 technology-capable Toucan PCIe retimer has recently earned PCI-SIG compliance.
The said product, which achieved compliance at PCIe 5.0 technology speeds, ensures interoperability, signals integrity, and low-power performance across industry-standard platforms. This enables customers to deploy the technology and previous generation systems, avoiding compatibility and debugging challenges common with legacy-only solutions while preparing for future PCIe technology transitions.
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This article is originally published at Insider Monkey.
