Movement Alert｜Credo Technology Rises 5.08% in Regular Trading, Optical Communication Sector Rallies on Coherent Capacity Expansion

Market Focus

Jun 18

On June 18, Credo Technology rose 5.08% in regular trading, trading at $260.99/share, with turnover of $464 million. The stock gained momentum as the broader optical communication sector rallied following a key industry catalyst.

On the news front, optical communication leader Coherent broke ground on a factory expansion in Sherman, Texas, aimed at boosting 6-inch indium phosphide (InP) wafer capacity to support high-speed optical communication components. According to LightCounting data, InP represents the largest segment of the optical chip market, accounting for 58% of the total market in 2025 and projected to reach approximately $6.9 billion by 2031. Over 80% of current InP demand originates from AI data centers. The broad sector rally saw Marvell Technology up 9.46%, Micron up 6.67%, and Intel up 7.2%.

Credo Technology had previously pulled back on sustained share sales by CFO Daniel Fleming and short-term profit-taking pressure. With sector tailwinds, multiple analyst target price upgrades, and fourth fiscal quarter revenue growth of 157% year-over-year providing fundamental support, the stock extended its technical recovery.

(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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