The stock of AI beneficiary Credo Tech could now be on the verge of a strong rebound!
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Credo Tech is an AI beneficiary because it serves a market driven by increasing demands for connectivity for AI applications and AI systems with its high-speed solutions like cables or signal processors. 75% of its revenues are derived from AI workloads. Although the stock has recently corrected significantly, it still shows relative strength. On November 21, it temporarily fell below the support level of $130, only to experience a strong rebound on November 24 with increased volume. Many traders may have been shaken out here, and I believe that...
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