Elon Musk Wants Uranium... But This $3 Million Miner Could Beat Him to It!

While tech giants like Elon Musk are pouring billions into nuclear energy, a tiny firm selling for less than $1 has quietly secured land in Canada holding some of the richest uranium deposits ever discovered. With energy demand skyrocketing, this tiny company could soon make big waves in the market.

Astera Labs Stock Is Ripping Higher Today: What's Going On?

Vaishali Prayag
November 05, 2024

Astera Labs Inc. (NASDAQ:ALAB) shares are trading higher Tuesday after the company posted strong third-quarter financial results. Here’s what you need to know.

What To Know: Astera Labs reported earnings of 23 cents per share, surpassing estimates of 17 cents per share. The company reported quarterly revenue of $113.1 million, beating analyst estimates of $97.4 million, per Benzinga Pro. Astera’s quarterly revenue was up 206% year-over-year.

“Astera Labs delivered strong Q3 results, setting our fifth consecutive quarterly revenue record and grew 47% versus the previous quarter,” said Jitendra Mohan, CEO of Astera Labs.

“Our business has now entered a new growth phase with multiple product families ramping across AI platforms based upon both third-party GPUs and internally developed AI accelerators.”

Astera highlighted the recent introduction of its Scorpio Smart Fabric Switches. The switches are designed to improve connectivity and performance in AI systems and offer specific solutions for different needs in AI infrastructure, such as fast connections between GPUs, CPUs and storage devices.

“With expanding product portfolio including the new Scorpio Fabric Switches, we are cementing our position as a critical part of AI connectivity infrastructure, delivering increased value to our hyperscaler customers, and unlocking additional multi-year growth trajectories for Astera,” Mohan added.

Astera Labs expects fourth-quarter revenue to be between $126 million and $130 million. The company sees adjusted earnings per share in the range of 25 cents to 26 cents.

See Also: Wall Street Rallies On Election Day, Palantir Skyrockets, Bitcoin Tops $70,000: What’s Driving Markets Tuesday?

Analyst Changes: A number of analysts raised price targets following the print, which appears to be adding to the upward momentum in shares on Tuesday.

  • Barclays analyst Tom O’Malley maintained an Overweight and raised the price target from $70 to $87.
  • Craig-Hallum analyst Richard Shannon maintained a Buy and raised the price target from $75 to $105.
  • Deutsche Bank analyst Ross Seymore maintained a Buy and raised the price target from $60 to $100.
  • JPMorgan analyst Harlan Sur maintained an Overweight and raised the price target from $70 to $110.
  • Stifel analyst Tore Svanberg maintained a Buy and raised the price target from $80 to $100.
  • Morgan Stanley analyst Joseph Moore maintained an Overweight and raised the price target from $74 to $94.

ALAB Price Action: Astera Labs shares were up 37.5% at $95.73 at the time of writing, according to Benzinga Pro.

Read Next:

  • Nvidia Takes Short-Lived Lead Over Apple In Valuation

Image Via Shutterstock.

Continue Reading...

Popular

Elon Musk Want His 11 Kids, Their Mothers To Live In Secret Compound He Bought, New Report Says

Elon Musk could be building a new family compound made up of several mansions to house his children and their mothers, according to a new report.

Early Warning: A Deep Crack Is Forming in the US Economy - Ad

Stocks are booming thanks to Trump's landslide victory. Yet one former Trump advisor says the picture is less rosy than it seems. "I've found a deep crack forming in the foundations of the US economy," he says. "And before too long, it could tear our country apart." It's critical you learn more today, BEFORE it impacts your money and your retirement.

Trump Has Asked Me To Do 3 Things, Says Robert Kennedy Jr.

Robert Kennedy Jr. revealed Trump's directive to tackle health agency corruption, promote science, and end chronic disease.

Sumitomo Rubber closing western New York tire plant and cutting 1,550 jobs

TONAWANDA, N.Y. (AP) — Sumitomo Rubber announced Thursday it will close its western New York tire manufacturing plant and eliminate all 1,550 union and salaried jobs.

Bill Gates' Mysterious New AI Project Revealed - Ad

Tech expert Jeff Brown uncovers Bill Gates' latest AI project, Stargate, which Forbes claims could reshape everything we think we know about our world.

Cathie Wood Bets Big On Mark Zuckerberg: Ark Pours $19M Into Meta Shares, Dumps Palantir And Tesla Stock

On Thursday, the Cathie Wood-led Ark Invest made significant moves in the market, with prominent trades involving Tesla Inc. (NASDAQ:TSLA), Meta Platforms Inc.

Jim Cramer Says Salesforce Agentforce Is The Best Use Of AI He Has Seen: 'Makes Sense That The Stock Has Gone Up So Much'

Cramer took to X to express his admiration for Salesforce's Agentforce, calling it "pretty revolutionary." He also noted that the stock's significant rise was a logical outcome of this groundbreaking AI application.

Forget Nvidia, Apple, Tesla, and Google - Ad

Market Wizard Larry Benedict: "Forget 99% of stocks: It's possible to make all the money you need for a happy retirement with just this one."

Elon Musk Joined Trump's Call With Zelenskyy

Elon Musk was a surprise guest on a phone call between President-elect Donald Trump and Ukrainian President Volodymyr Zelenskyy.

Porter Stansberry Warns: Nvidia Shares Could Drop By 50% - Ad

It happened in 2000... it happened in 2008... it happened in 2021... and now... the great NVIDIA collapse of 2024 is coming. In this new exposé, Porter Stansberry reveals why the tech giant is poised to topple...

Will people leave Florida after devastating hurricanes? History suggests not

ORLANDO, Fla. (AP) — The news rippled through Treasure Island, Florida, almost like a third storm: The mayor planned to move off the barrier island a month after flooded tens of thousands of homes along the Gulf Coast and two weeks after also ravaged the state.

At least 11 employees injured in explosion at Kentucky business

LOUISVILLE, Ky. (AP) — At least 11 employees were taken to hospitals and residents were urged to shelter in place on Tuesday after an explosion at a Louisville, Kentucky, business.

24/7 Automated Profits in Crypto - Ad

October through December are historically among the most bullish months for crypto. WaveBot -- an automated trading tool that takes all the guesswork out of profiting in crypto. It trades key levels, buying dips and selling at the perfect time, 24/7. All you need to do is set it up. After that, WaveBot takes care of everything.

FBI Investigating Racist Text Message Campaign Following Election

The FBI is investigating a series of offensive and racist text messages targeting various communities in the wake of the presidential election.

Lyft pays $2.1 million to settle case alleging the ride-hailing service deceived drivers

SAN FRANCISCO (AP) — Lyft is paying $2.1 million to settle a lawsuit accusing the ride-hailing service of exaggerating how much money drivers could make while the company was trying to recover from a steep downturn in demand during the pandemic.

Wall Street Legend Issues Inauguration Buy Alert - Ad

If you've underperformed this raging bull market, if you've lost money or missed out... this is your final chance to potentially profit.

A suspected attack by Yemen's Houthi rebels sees explosions near ship in Red Sea

DUBAI, United Arab Emirates (AP) — A suspected attack by saw multiple explosions strike near a vessel traveling through the Red Sea on Tuesday, though no damage was immediately reported by the ship, authorities said.

Bumble Catalysts Show Efficiency Gains, But Analyst Flags Growth Risks

BofA analyst reiterates underperform rating on Bumble with a $5.75 price target, citing OPEX efficiency improvements, in-line revenue, and cautious outlook.

Shocking Footage from Bill Gates' $100 Billion AI Project - Ad

Jeff Brown flew to Wisconsin to witness Bill Gates' $100 billion AI project firsthand. What he uncovered will blow your mind!

$2.5 Million From Meme Coins? One Trader Seems To Have Cracked The Code

A whale made $2.5 million trading meme coins with potential for high profitability. Solonchain highlights effective risk management and upcoming conference on memecoins.

What's Going On With Shopify Stock Monday?

Shopify Inc. (NYSE:SHOP) shares are trending and moving higher on Monday. The company is due to release earnings before the market opens on Tuesday. Here's what you need to know.

The Dark Truth About AI Stocks - Ad

All the signs show the AI market is about to reverse. And unless you know what's really going on in this sector, you could be wiped out. Inside this new expose, you'll discover exactly how the AI crisis will unfold... how you can prepare for it before it's too late... and how you can potentially profit from it, too.

Republicans On The Verge Of Seizing Control Of US House, Paving Way For Bold Reforms In Trump's Second Term

The Republican party is on the brink of securing control of the U.S. House of Representatives, a development that could significantly impact the legislative landscape when Donald Trump makes a White House comeback in January.

The Real Hillbilly Elegy - Ad

Obama and Biden's "War on Coal" has left nothing but devastation in its wake. In the beautiful hill-towns of Appalachia, unemployment is sky-high, wages are at record lows. Addiction has overwhelmed these once thriving coal towns. But in a strange twist of fate, something incredible is taking place. A breakthrough that could end America's energy woes and send one government-backed stock climbing.

Retail sales up solidly in October as Americans showed continued willingness to spend

WASHINGTON (AP) — U.S. retail sales rose last month at a healthy pace in the latest sign that consumer spending is driving the economy's steady growth.

Protests in Georgian separatist region block bridges to capital

TBILISI, Georgia (AP) — Protesters on Tuesday blocked bridges leading to the capital of the Georgian separatist region of Abkhazia as tensions flared in a dispute over a proposed law that would encourage Russian investment.

There's Only ONE AI Company That Matters - Ad

It's not Nvidia, AMD, IBM, or any new startup. It's not even an artificial intelligence company... yet it holds the key to the entire AI market. Get all the details of the critical technology that the entire AI sector needs to survive.

China's president will unveil a megaport in Peru, but locals say they're being left out

CHANCAY, Peru (AP) — On the edge of Peru’s coastal desert, a remote fishing town where a third of all residents have no running water is being transformed into a to cash in on the inexorable rise of .

Apple, Amazon, Intel, Peloton, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

U.S. stocks took a downward turn towards the end of trading on Thursday, with the Nasdaq Composite dipping around 500 points.

Crypto Profit Floodgates Open With Trump Presidency - Ad

As Bitcoin heads towards $100k, this video shows you how to make HUGE gains from Crypto's $82 Billion 'Trump-Pump'...Without buying a single Bitcoin! But you must get in before January 20th -- Trump's inauguration day -- for the biggest gains...

New York eyes reviving congestion pricing toll before Trump takes office

ALBANY, N.Y. (AP) — New York Gov. Kathy Hochul is considering ways to revive a program that would have charged drivers — before President-elect Donald Trump takes office and can block it.

Man who stole and laundered roughly $1B in bitcoin is sentenced to 5 years in prison

WASHINGTON (AP) — A computer expert who stole worth billions of dollars at current prices — and then spent years laundering some of the hacked cryptocurrency with help from his wife — was sentenced on Thursday to five years in prison.

How Musk & Trump Could Launch These Stocks Higher - Ad

Tesla (TSLA) stock has surged. But the real opportunity? Musk's AI venture, xAI. With Trump's presidency, xAI could soon lead the AI race, backed by strong government connections and fewer regulatory barriers. This powerhouse collaboration could fuel massive growth in the AI sector, and xAI may become Elon's biggest company yet.

Pentagon Officials Weigh Responses To Possible Illegal Orders Under Trump

As President-elect Donald Trump prepares to take office for the second time, Pentagon officials are reportedly strategizing their response to potential controversial orders.

Chipotle's New CEO Scott Boatwright Will Make Millions, But It Will Still Be Half Of Ex-CEO Brian Niccol's Pay

Chipotle Mexican Grill, Inc. announced Monday that Scott Boatwright, who served as interim CEO since August, will permanently lead the fast-casual restaurant chain with a compensation package valued less than half of his predecessor's pay.

Final jobs report before election will likely offer a blurred view of labor market

WASHINGTON (AP) — Americans on Friday will get their last major look at the state of the U.S. economy — the October jobs report — just four days before Election Day. The view, though, is likely to be that left many workers temporarily off payrolls.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright priceactionea.net
Privacy Policy | Terms of Service