On May 29, Credo Technology rose 6.25% in regular trading, trading at $237.54/share, with trading volume of approximately $321 million.

On the news front, the rally was driven by the completion of an acquisition alongside robust earnings expectations ahead of the company's quarterly report scheduled for June 1 after market close. Market consensus projects quarterly revenue of approximately $432 million, representing a 169.77% year-over-year increase, with adjusted earnings per share expected at $1.03, a 273.01% surge year-over-year. Jefferies previously added Credo to its top picks list, citing the early-stage penetration of its active electrical cable business as a key growth driver. Goldman Sachs has also positioned optical networking as the next super trend within AI infrastructure, providing additional tailwinds.

Within the Semiconductors sector, individual stocks showed broad strength. Among peers, Micron Technology up 5.77%, NVIDIA up 1.11%, Intel up 0.94%, Broadcom up 4.08%, Advanced Micro Devices up 0.44%.

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