Astera Labs (ALAB) Stock Is Up 23% This Month: What's Going On?

Astera Labs Inc (NASDAQ:ALAB) shares are up 23.4% to $89.54 in November following the company's impressive third-quarter earnings beat Wall Street expectations, reinforcing its role as a critical player in AI infrastructure.

What To Know: Astera reported earnings of 23 cents per share, exceeding the estimated 17 cents, alongside revenue of $113.1 million, up 206% year-over-year and well above analyst forecasts of $97.4 million.

CEO Jitendra Mohan highlighted that the company achieved its fifth consecutive quarter of record-breaking revenue, with sales rising 47% from the previous quarter, driven by new growth in AI connectivity solutions.

Astera's latest product, the Scorpio Smart Fabric Switch, is central to its strategy. These ...

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