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Fly News Breaks for April 16, 2018
ZTCOY, IPHI
Apr 16, 2018 | 12:42 EDT
JPMorgan analyst Harlan Sur tells investors to buy shares of Inphi (INPI) on weakness after the U.S. Department of Commerce imposed a denial of export privileges against ZTE (ZTCOY). The stock is down 7.5% to $30.33 in midday trading. The analyst believes ZTE represented about 1% of revenue for Inphi in 2017 and estimates ZTE will represent about 2% of revenue in 2018. Inphi's fundamentals are getting set to inflect in the June quarter, Sur tells investors in an intraday research note. He keeps an Overweight rating on the shares.
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