Movement Alert｜Credo Technology Group Holding Ltd Rises 5.08% Overnight, Semiconductor and Optical Communications Sector Continues Oversold Rebound

Market Focus07-31

On July 31, Credo Technology Group Holding Ltd rose 5.08% overnight, trading at 211.39 USD/share, with turnover of approximately 431,700 USD.

On the news front, the U.S. semiconductor and optical communications sector continued its oversold rebound, following a period in which the Philadelphia Semiconductor Index had pulled back nearly 25% from its recent highs, officially entering deep correction territory. Credo had experienced significant consecutive declines — falling nearly 10% on July 25, over 9% on July 28, and over 5% on July 29. The sector initiated a collective rebound on July 30, with Credo gaining 7.21% during that session, and the current overnight move represents a continuation of that recovery. Additionally, Barclays recently raised its target price on Credo from 260 USD to 300 USD, citing expectations that AI compute expansion will drive sustained growth in high-speed interconnect chip demand, providing further support to market sentiment.

Within the Semiconductors sector, Micron Technology up 3.98%, Intel up 4.93%, Advanced Micro Devices up 3.15%, NVIDIA up 1.11%, Broadcom up 0.71%.

(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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