The AI semiconductor stock has surged 95.2% over the past year and 54.71% year-to-date. Credo reported FY2026 revenue exceeding $1.3 billion, up 157% year-over-year, with Q4 revenue at $437 million and non-GAAP EPS of $1.16, beating consensus for the fourth consecutive quarter. Management projects over 80% revenue growth for FY2027, but analysts note risks from high customer concentration, with its top customer accounting for 34% of Q4 revenue, and a trailing P/E of 92 leaving little valuation cushion.