Credo Technology Group reported strong Q3 results with a 201.5% year-over-year revenue increase and significant margin expansion, despite recent stock price weakness. The company expects growth to slow and gross margins to contract in Q4, though it still projects triple-digit revenue growth above market expectations. Credo is addressing risks from optical technology disruption by launching new optical products and speeding up production of ZeroFlap optics, aiming to expand its total addressable market. With a forward price-to-earnings ratio of 29 and management's strategic shift toward optics, the outlook remains positive, supporting a buy rating.
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Credo generated over $1.3 billion in revenue in fiscal 2026 and expects more than 80% growth in fiscal 2027, fueled by strong sales in optical products like ZeroFlap optics, DSPs, and silicon photonics. The acquisition of Dust Photonics has expanded ...
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