Stock Track | Credo Technology Group Plunges 5.01% Pre-Market on Analyst Downgrades and Mixed Outlook

Stock Track

Mar 05, 2025

Credo Technology Group Holding Ltd (CRDO) experienced a pre-market plunge of 5.01% on Wednesday, following a series of analyst downgrades and a mixed outlook from the company's earnings call.

The semiconductor company reported record revenue of $135 million for the third quarter of fiscal 2025, driven by strong demand from its largest hyperscale customer. However, concerns emerged regarding the company's high customer concentration and the potential for an "air pocket" in future demand.

Multiple analysts lowered their price targets on Credo, citing the risks associated with the company's dependence on a single major customer. While Credo expects to diversify its customer base in the coming quarters, analysts expressed concerns about the timing and extent of this diversification.

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However, concerns emerged regarding the company's high customer concentration and the potential for an \"air pocket\" in future demand.</p>\n\n<p>Multiple analysts lowered their price targets on Credo, citing the risks associated with the company's dependence on a single major customer. While Credo expects to diversify its customer base in the coming quarters, analysts expressed concerns about the timing and extent of this diversification.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CRDO","symbol_name":"Credo Technology Group Holding Ltd","start_time":0,"source_url":"","article_id":"1187614405","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1187614405","pubTimestamp":1741180025,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Credo Technology Group Holding Ltd  experienced a pre-market plunge of 5.01% on Wednesday, following a series of analyst downgrades and a mixed outlook from the company's earnings call.The semiconductor company reported record revenue of $135 million for the third quarter of fiscal 2025, driven by strong demand from its largest hyperscale customer. 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