🔴 Credo Technology Group is trading 12.24% down today amid semiconductor selloff and AI-spending concerns

Credo Technology Group is trading at $169.72, down 12.24%, as a broader semiconductor selloff weighs on shares.

• Investors are weighing AI-spending concerns and tougher Chinese competition.
• Hotter-than-expected U.S. inflation has raised rate concerns, pressuring technology shares and AI-related investment.
• Credo’s announced Q2 revenue outlook of $525–$535 million is positive news, not an evident cause of the drop; reporting points to sector and macro pressures, not a new negative Credo-specific catalyst.