# semiconductor earnings — X 热门讨论 (2026-09-26 07:30 UTC)

## @JonkooTrades (Jonkoo Capital) · 09-25 09:44 · ♥58 ↻1 💬4 I called $150 the bottom on $CRDO. We’re now knocking on $200. And I think the path to $300 is becoming increasingly clear.

Credo printed $479M of quarterly revenue, +115% YoY, with a 68% non-GAAP gross margin and $236M of non-GAAP net income. Management is now guiding Q2 to $525–535M and expects FY27 revenue growth of more than 85%.

That puts FY27 revenue around $2.5B based on current consensus, versus just $1.3B in FY26. Consensus EPS is already around $6.31.

But the more interesting part is what comes AFTER that.

$CRDO is no longer just the AEC story. You now have: → AECs continuing to scale with AI clusters → 224G / 1.6T connectivity ramping → ZeroFlap optical transceivers → Optical DSPs → Silicon photonics through DustPhotonics → ALCs → OmniConnect attacking scale-up / memory connectivity

Management expects optical alone to exceed $600M this year, with ZeroFlap, optical DSPs and silicon-photonics PICs each contributing more than $100M.

So here's my path to $300:

If Credo exits FY27 around a ~$2.5B revenue run-rate with ~68% gross margins, continues converting that into massive earnings growth, and proves the optical business can become the next major growth leg, the market starts valuing $CRDO on FY28 rather than FY27.

At $300, you're talking about roughly another 50% from here. For a company currently growing revenue ~100%, expanding into multiple multi-billion-dollar connectivity markets, and maintaining semiconductor margins near 70%, that doesn't require some ridiculous scenario. It requires execution.

Still holding. $CRDO > 引用 @JonkooTrades: $CRDO at 150 is probably the best you're going to get.

NFA DYOR. https://x.com/JonkooTrades/status/2103420288301989889

## @JonkooTrades (Jonkoo Capital) · 09-24 10:20 · ♥30 ↻1 💬3 $TRT earnings in T-minus ~2 hours.

Here’s what I’m watching.

Revenue: I’m looking for roughly $17–19M in Q4. Around $18M would put FY26 revenue near $66M, representing massive YoY growth.

But revenue isn’t the biggest question anymore.

Margins are.

Last quarter, revenue surged 124% YoY to $16.5M, but gross margin fell to 15.5% as high-volume semiconductor testing became a larger part of the mix.

If $TRT can deliver another strong revenue quarter while showing margin improvement, that’s where things get interesting.

Then there’s the forward setup.

$TRT has announced ~$14.2M in orders supporting a next-gen AI GPU platform, expanded its Penang testing capacity, and recently secured a 3-year automotive semiconductor burn-in contract with a $4.7M minimum commitment.

A chunk of that opportunity falls into FY27 rather than tonight’s numbers.

So I’m watching:

• $17M+ Q4 revenue • Gross margin recovery • AI GPU order conversion • Penang capacity/utilization commentary • Additional AI customer demand • FY27 outlook

$19M+ revenue combined with margins moving back toward 18–20% would be especially interesting.

For me, this report is less about EPS and much more about whether $TRT is turning the recent AI-driven demand surge into sustained growth and operating leverage.

Let’s see what they deliver. https://x.com/JonkooTrades/status/2103066930282192971