Stock Track | Credo Technology Soars 12.76% Intraday on Chip Sector Rally Triggered by Broadcom's Strong Forecast

Stock Track03-05

Credo Technology Group Holding Ltd's stock soared 12.76% intraday, as the semiconductor company benefited from a broader rally in chip and photonics shares.

The surge appears to be part of a sector-wide movement, triggered by chip designer Broadcom forecasting second-quarter revenue above Wall Street estimates, which signaled strong demand for advanced chips used in data centers powering artificial intelligence applications. Broadcom also announced a new share repurchase program of up to $10 billion through the end of the year, further boosting investor sentiment across the semiconductor sector.

Credo was among several photonics and chip stocks that posted gains during the session, indicating a positive market response to the broader industry outlook.

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