Daily Alpha · Substack
· Post-Market Alpha · by Buzzberg Research
A full-body optical thesis supplied a concrete Credo revenue test, while a public macro preview flagged a possible yen turn.
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Themes on this desk
Yen reversal
Fidenza Macro's public preview argues that the yen may be forming a secular bottom, drawing a parallel with USD/JPY in 2012.
Substack - Outlier Capital
CRDO optical portfolio growth
CRDO's optical portfolio, including DSPs, PICs, and ZeroFlap modules, is guided to exceed $600 million in FY2027, serving as a critical second engine to its AEC business.
The company's ability to scale optical revenue is the primary constraint on its valuation multiple as AEC growth eventually normalizes.
Watch Watch for optical revenue to reach the $600M target; failure to do so may invalidate the platform-growth thesis.
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