Movement Alert｜Credo Technology Rises 5.68% in Regular Trading, Optical Communication Sector Extends Strength on AI Infrastructure Demand

Market Focus

Jul 09

On July 9, Credo Technology rose 5.68% in regular trading, trading at 271.695 USD/share, with turnover of $229 million.

On the news front, the optical communication and semiconductor sectors continued to strengthen as hyperscale cloud providers sustained heavy investment in AI infrastructure. Demand for high-speed interconnect and optical-electrical conversion within data centers has been rising, with market positioning broadening from AI chips to optical modules, network chips, and related connectivity solutions. Evercore ISI previously initiated coverage on Credo Technology with an Outperform rating and a $325 price target, providing valuation support above current levels.

Within the Semiconductors sector, Micron Technology rose 7.19%, Advanced Micro Devices rose 5.82%, Intel rose 5.03%, and Broadcom rose 2.97%, reflecting broad-based strength. The optical communication theme saw consecutive sessions of gains earlier this week, with Credo rising approximately 5.7% on July 8 and surging over 10% on July 6 alongside peers such as Astera Labs.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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