Bull of the Day: Credo Technology (CRDO)

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• Amazon may have contributed as much as 85% of Credo's Q3 topline revenue, though Credo did not officially disclose this

  80% confidence

• CRDO is a buy in the $40s price range

  80% confidence

• Credo aims to break bandwidth barriers in the data infrastructure market and provides secure, high-speed connectivity solutions that deliver improved power efficiency

  80% confidence

• Many important trends are driving the data infrastructure market, such as cloud workloads, streaming video, 5G wireless deployment, IoT expansion, and growing adoption of AI, creating an explosion of data that has stressed existing infrastructure

  80% confidence

• NVIDIA has been creating new industries for almost eight years, with Jensen & Co. developing use cases by the thousands per year once data enterprises and universities caught on to GPU-CUDA capabilities

  80% confidence

• Credo had seven customers that contributed more than 5% of revenue, and going forward expects three to four customers will be greater than 10% of revenue in coming quarters and fiscal year as additional hyperscalers ramp to more significant volumes

  80% confidence

• Jensen talks about 1,000-fold advances in science, engineering, and social challenges due to NVIDIA's simulation and synthetic data capabilities

  80% confidence