Credo shares fall despite topping fiscal Q1 expectations

Credo Technology reported fiscal Q1 results and revenue guidance above consensus, yet the stock declined in after-hours trading. The negative price reaction despite a beat suggests elevated expectations, potential profit-taking, or concerns about forward margins/demand durability. Near term, this can weigh on sentiment toward high-multiple semis and networking-exposed names by highlighting that upside surprises may not be sufficient to re-rate the group.