alab ALAB reported better-than-expected third-quarter EPS and sales on Monday.
Astera Labs (ALAB) shares are jumping around 30% Tuesday morning, after the Nvidia (NVDA) supplier reported on Monday strong third-quarter earnings results on the back of demand for its artificial intelligence (AI) products.
Wall Street is unanimous in its love for the stock, which is set to test its all-time high after earnings.
Astera Labs delivered a beat-and-raise third-quarter earnings report thanks to its heavy exposure to the artificial intelligence megatrend. The post Astera Labs Heads Skyward After Stellar Q3 Earnings Report appeared first on Investor's Business Daily.
Start Time: 16:30 January 1, 0000 5:32 PM ET Astera Labs, Inc. (NASDAQ:ALAB ) Q3 2024 Earnings Call November 04, 2024, 16:30 PM ET Company Participants Jitendra Mohan - CEO and Co-Founder Sanjay Gajendra - President, COO and Co-Founder Mike Tate - CFO Leslie Green - IR Conference Call Participants Harlan Sur - JPMorgan Joe Moore - Morgan Stanley Blayne Curtis - Jefferies Thomas O'Malley - Barclays Tore Svanberg - Stifel Ross Seymore - Deutsche Bank Quinn Bolton - Needham Mark Lipacis - Evercore ISI Suji Desilva - ROTH Capital Richard Shannon - Craig-Hallum Operator Hello. Good afternoon.
Chipmaker Astera Labs beat Wall Street's targets for the third quarter and with its guidance for the current period. Astera Labs stock rocketed in extended trading.
In the latest trading session, Astera Labs, Inc. (ALAB) closed at $73.50, marking a -0.77% move from the previous day.
The introduction of Scorpio Smart Fabric Switches expands Astera Labs' market opportunity to $12 billion by 2028. Astera Labs could utilize its leading market share in PCIe retimers to grow sales of Scorpio in light of the synergies between both products. Astera Labs could have more content in Blackwell servers due to its high complexity, creating the need for better connectivity solutions.
Astera Labs' latest innovations and strategic initiatives underscore its potential to significantly impact the AI industry.
Astera Labs (ALAB) shares jumped Wednesday after the Nvidia (NVDA) supplier announced new products to support artificial intelligence (AI).
Astera Labs shares surged after the chipmaker introduced a new family of data center switches built for artificial intelligence infrastructure.
In the closing of the recent trading day, Astera Labs, Inc. (ALAB) stood at $41.36, denoting a -1.45% change from the preceding trading day.