Astera Labs Shares Fall 8% Despite Strong Fourth-Quarter Outlook
Photo: TokenPost
Astera Labs (ALAB) shares fell 8% in premarket trading Wednesday, Nov. 4, after the AI connectivity company reported quarterly results above expectations and issued a fourth-quarter outlook that topped consensus. The results and forecast pointed to continued demand for connectivity products used in artificial intelligence infrastructure. Morgan Stanley remained confident in the company’s growth, while Bank of America maintained a Neutral rating and viewed the valuation as elevated despite the share decline. Astera Labs had scheduled its third-quarter results release for after Tuesday’s U.S. market close, with an earnings call set for 4:30 p.m. ET.
Source: TokenPost
