Group 1 - The current stock market panic has led to attractive valuations for many stocks, including Credo Technology Group Holding (NASDAQ: CRDO) [1] - Credo Technology Group has experienced a 50% year-to-date decline, making it a high-quality company with an appealing valuation [1] Group 2 - The article emphasizes the importance of equity research and analysis in identifying investment opportunities in the current market environment [1]

Core Viewpoint - Credo Technology Group Holding Ltd (CRDO) has experienced a stock decline of 9.1% over the past month, attributed to broader market sell-offs driven by escalating trade tensions and potential economic slowdowns. However, this market turbulence may present a buying opportunity for long-term investors [1][2]. Price Performance - CRDO's stock gained 7.8% recently, despite a general market decline, but remains down 58.6% from its 52-week high of $86.69. The stock's 9% decline is less severe compared to peers like Broadcom, Cirrus Logic, and Marvell Technology, which saw declines of 14.2%, 20.8%, and 19.8%, respectively [2][5]. Demand and Growth Drivers - The demand for high-performance connectivity solutions is increasing due to exponential data growth and the rapid proliferation of AI technologies. Credo specializes in high-performance serial connectivity solutions for the data infrastructure market, positioning it well for future growth [5][6]. - The Active Electrical Cables (AEC) product line has shown significant growth, with triple-digit sequential growth in Q3 of fiscal 2025, driven by increased adoption in data centers. AECs offer over 100 times improved reliability compared to traditional laser-based optical solutions, making them attractive for data center applications [6][7]. Product Portfolio Expansion - Credo is expanding its product portfolio to include PCIe solutions, which are expected to address the growing demand for AI scale-out and scale-up networks. This expansion is anticipated to significantly increase the company's total addressable market [8]. - The company has introduced the Lark Optical DSP family, designed for 800G optical transceivers, which is expected to enhance its offerings in the optical business. The Lark 800 and Lark 850 products are optimized for high-performance and low-power applications, particularly in AI data centers [9]. Customer Base Diversification - Credo is actively working to diversify its customer base, with 86% of its revenue in Q3 of fiscal 2025 coming from a single end customer. The company is in the qualification process with two additional hyperscalers and has achieved volume production with three others, which is expected to enhance revenue stability [11]. Financial Performance and Outlook - For Q3 of fiscal 2025, Credo reported revenues of $135 million, reflecting an 87% sequential increase and a 154% year-over-year increase, surpassing the Zacks Consensus Estimate by 12.5%. The company anticipates Q4 revenues between $155 million and $165 million, indicating a potential growth of 163.2% year-over-year [12][13]. - Analysts have shown optimism regarding CRDO's stock, with strong upward revisions for earnings estimates, reflecting confidence in the company's growth trajectory [13]. Valuation - CRDO is currently trading at a forward 12-month Price/Sales ratio of 9.29, which is higher than the Electronic-Semiconductors sector average of 5.3. This premium valuation is supported by the company's strong revenue growth prospects in the high-growth data center space [15][16]. Investment Recommendation - Given the improving financial performance and robust growth prospects, CRDO is considered a compelling investment opportunity despite competitive pressures and a high valuation. The stock's recent pullback from its 52-week high presents a potential buying opportunity [17].

Core Insights - Credo Technology Group (CRDO) has launched its Lark optical Digital Signal Processor (DSP) family, aimed at enhancing 800G optical transceivers [1][2] - The introduction of the Lark DSP family has resulted in a 3.8% increase in CRDO's share price, closing at $41.72 on April 1, 2025 [2] Product Overview - The Lark 800 is a high-performance, low-power DSP designed for fully retimed 800G transceivers, catering to the power and cooling needs of hyperscale AI data centers [2][6] - The Lark 850 is an ultra-low-power 800G Linear Receive Optics (LRO) DSP, consuming under 10W, making it suitable for AI-driven data environments [2] - The Lark DSPs utilize a fifth-generation architecture that ensures efficient data transmission in demanding hyperscale environments [3] Energy Efficiency and Adaptability - The Lark 800 features programmable power-saving modes, allowing for optimized power usage based on workload intensity [4] - It supports both single-mode and multi-mode architectures, providing flexibility for various optical transceiver applications [4][5] Market Demand and Client Base - The launch of the Lark DSP family addresses the growing need for high-speed, low-latency connectivity in evolving hyperscale data centers [6] - Credo has a strong client base, including over 20 blue-chip clients and major hyperscalers, which supports its market position [7] Financial Performance and Projections - For the third quarter of fiscal 2025, CRDO expects revenues between $115 million and $125 million, indicating a sequential growth of 67% at the midpoint [8] - The company anticipates double-digit sequential revenue growth from the third to the fourth quarter of fiscal 2025, with overall revenue growth exceeding 100% for fiscal 2025 [8] - Management expects operating expenses to grow at less than half the rate of revenues, leading to margin expansion, with long-term non-GAAP gross margins projected between 63% and 65% [9] Stock Performance - CRDO currently holds a Zacks Rank 1 (Strong Buy) and has seen its shares rally by 85.9% over the past year, contrasting with a 2.2% decline in the Zacks Electronics-Semiconductors industry [10]

Group 1 - Khaveen Investments is a Macroquantamental Hedge Fund managing a globally diversified investment portfolio across various asset classes, countries, sectors, and industries [1] - The investment approach combines top-down and bottom-up methodologies, integrating global macro, fundamental, and quantitative strategies [1] - The fund serves accredited investors globally, including high-net-worth individuals, corporations, associations, and institutions [1] Group 2 - The strategic focus of Khaveen Investments is on transformative fields such as Artificial Intelligence, Cloud Computing, 5G, Autonomous & Electric Vehicles, FinTech, Augmented & Virtual Reality, and the Internet of Things [1]

Market Overview - The Nasdaq surged 2.3% on Monday following President Trump's comments on "flexibility" regarding tariff plans, closing at its long-term 50-week moving average and above its 21-day moving average [1] - Trading was subdued on Tuesday as Wall Street awaited further developments on tariffs, with the uncertainty contributing to a stock market correction after a significant post-election rally [2] Investment Strategy - There may be near-term selling pressure; however, investors are encouraged to buy strong stocks that are trading below their highs, as buying into uncertainty can be a successful long-term strategy [3] - The earnings growth outlook remains strong, with expectations of interest rate cuts by the Federal Reserve in the latter half of 2025 [3] Stock Screening - Investors can utilize a Zacks screen to identify Zacks Rank 1 (Strong Buy) stocks, which historically outperform the market [4][6] - The screening parameters include a Zacks Rank of 1, positive current quarter estimate revisions over the last four weeks, and top broker rating changes [7][8] Company Spotlight: Credo Technology Group Holding Ltd (CRDO) - Credo is a rapidly growing tech firm focused on high-speed connectivity solutions, projected to grow its revenue by 121% in FY25 to $671 million, up from $106 million in FY22 [9] - The company is expected to expand its adjusted EPS by 600% from $0.09 to $0.63 in FY25, with a further 71% increase anticipated next year [10] - Credo's stock has increased by 250% over the past three years, significantly outperforming the tech sector, although it has seen a 42% decline from its January peaks [11] - The stock has found support at its 200-day moving average, with nine out of ten brokerage recommendations being "Strong Buys" and trading approximately 60% below its average Zacks price target [12]

Group 1 - The article discusses the correction in technology stocks following a significant increase late last year, suggesting it may be an opportune time to identify companies that were previously considered too expensive for investment [1] - The author expresses a personal interest in stock trading and indicates a potential interest in initiating a long position in CRDO within the next 72 hours [2] - The article emphasizes that past performance does not guarantee future results and that no specific investment advice is being provided [3]

Core Insights - WPG Americas Inc. has formed a strategic partnership with Credo Technology Group to enhance its offerings in high-performance, low-power connectivity solutions [1][3] - The collaboration aims to meet the growing demand for high-speed data transmission across various industries, including hyperscale data centers, telecommunications, and cloud computing [3][4] Company Overview - WPG Americas Inc. is headquartered in San Jose, CA, and is part of WPG Holdings, a $27.4 billion global distributor of semiconductors and electronic components [4] - Founded in November 2007, WPG Americas focuses on providing total solutions and innovative technologies to its diverse customer base [4] Credo Technology Group - Credo specializes in high-speed connectivity solutions designed to address the increasing bandwidth demands in modern networking environments [2][5] - The company's product offerings include optical DSPs, linecard gearboxes, retimers, MACsec PHYs, Chiplets, and Active Electrical Cables, known for their performance and energy efficiency [2][5] - Credo's mission is to break bandwidth barriers in the data infrastructure market, focusing on improving power efficiency and reliability as data rates increase [5]

Group 1 - Credo (NASDAQ: CRDO) is positioned as an exciting AI stock with niche solutions targeting a significant market opportunity, with a bullish price growth target of 100% within 12 to 18 months [1] - The analyst, Oliver Rodzianko, specializes in the technology sector, particularly in AI, semiconductors, software, and renewable energy, focusing on companies with resilient management and competitive advantages [1] - Rodzianko employs a long-term investment strategy, typically holding positions for one to two years, and aims to exit when investments reach fair value [1] Group 2 - The analyst plans to establish a family office based on a conservative wealth-preservation model and intends to found an independent asset management firm focused on a high-alpha black swan portfolio strategy [1]

公司指引 FY25Q4 营收 1.55~1.65 亿美元，中枢同比增长 163%，环 比增 长 19% ，预 计 FY25Q4 GAAP、Non-GAAP 毛 利率 分别为 62.7%~64.7%、63.0%~65.0%。 经营分析 公司 FY25Q3 营收增长主要来自大客户需求增长，公司 FY25Q3 最 大客户营收占比达到 86%，其余客户占比较低主要是订单交付节奏 导致。公司预计 FY25Q4 将有 3~4 个客户营收占比超过 10%。另外 公司产品在新客户进展积极，公司 AEC 正在另外两家大型云厂商 测试，预计将在 FY26 实现量产出货。 产品品类方面，公司积极拓展 PCIe 相关产品。公司预计将在今年 GTC 展示 PCIe AEC 产品，公司 PCIe retimer 已经支持完整的 PCIe 标准，并且已经成功导入一家大型 AI 服务器 ODM 企业，预计将在 CY26 产生收入。 盈利预测、估值与评级 业绩简评 公司发布 FY25Q3（24.11~25.1）业绩，公司 FY25Q3 实现营收 1.35 亿美元，同比增长 154.4%，环比增长 87.4%。公司 FY25Q3 GAAP 毛利 ...

Core Insights - JR Research is recognized as a top analyst in technology, software, and internet sectors, focusing on growth and GARP strategies [1] - The investment approach emphasizes identifying attractive risk/reward opportunities with robust price action to generate alpha above the S&P 500 [1][2] - The investment group Ultimate Growth Investing specializes in high-potential opportunities across various sectors, focusing on strong growth potential and contrarian plays [3] Investment Strategy - The strategy combines sharp price action analysis with fundamental investing, avoiding overhyped stocks while targeting battered stocks with recovery potential [2] - The investment outlook is typically 18 to 24 months for the thesis to materialize, aiming for robust fundamentals and attractive valuations [3] Target Audience - The group is designed for investors looking to capitalize on growth stocks with strong fundamentals, buying momentum, and turnaround plays [3]