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Barchart
Nauman Khan

This Stock Could Be the Biggest Beneficiary as SpaceX Shifts to a Neocloud Model

SpaceX CREDO CRDO Credo Technology GF Securities

Credo Technology (CRDO) is a small semiconductor company that just reported blowout growth, tripling revenue last year. Now analysts say it could get another boost from SpaceX (SPCX) moving into “neocloud” services, which means if SpaceX becomes a cloud/data center provider, Credo may sell a lot of cables and optics.

GF Securities recently argued that SpaceX is evolving toward a neocloud business model. If that thesis proves correct, Credo Technology could emerge as one of the biggest beneficiaries. The bank also initiated a “Buy” rating for CRDO.

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