Credo: This Untimely Reversal Is A Big Warning (Rating Downgrade)
Credo Technology Group is experiencing significant selling pressure due to supply chain concerns and high customer concentration risks. The company's recent acquisition aims to enhance its position in the silicon photonics market, which is projected to grow substantially. However, the stock's valuation has declined, indicating potential further downside.
- ▪Credo Technology (CRDO) is facing intense selling pressure amid supply chain concerns.
- ▪Over 85% of the company's sales are tied to just three customers, increasing execution risks.
- ▪The stock's valuation has retraced to 33x forward earnings, with a suggested entry point of $130.
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