Bull of the Day: Credo Technology (CRDO)
View original at nasdaq.comBull of the Day: Credo Technology (CRDO) Credo Technology Group (CRDO) is a key supplier of high-performance serial connectivity solutions for the hyperscale datacenter, 5G carrier, enterprise networking, HPC (high-performance computing), and AI/ML markets…
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Credo aims to break bandwidth barriers in the data infrastructure market and provides secure, high-speed connectivity solutions that deliver improved power efficiency
80% confidenceMany important trends are driving the data infrastructure market, such as cloud workloads, streaming video, 5G wireless deployment, IoT expansion, and growing adoption of AI, creating an explosion of data that has stressed existing infrastructure
80% confidenceAmazon may have contributed as much as 85% of Credo's Q3 topline revenue, though Credo did not officially disclose this
80% confidenceNVIDIA has been creating new industries for almost eight years, with Jensen & Co. developing use cases by the thousands per year once data enterprises and universities caught on to GPU-CUDA capabilities
80% confidenceCRDO is a buy in the $40s price range
80% confidenceJensen talks about 1,000-fold advances in science, engineering, and social challenges due to NVIDIA's simulation and synthetic data capabilities
80% confidenceCredo had seven customers that contributed more than 5% of revenue, and going forward expects three to four customers will be greater than 10% of revenue in coming quarters and fiscal year as additional hyperscalers ramp to more significant volumes
80% confidence