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Fly News Breaks for February 16, 2017
SMI
Feb 16, 2017 | 08:58 EDT
Bernstein analyst Mark Li says that the 5.5% drop in SMIC's stock following its results was probably sparked by the decline in its margin guidance and the slower than expected ramp of its 28 nm product. However, the analyst says that the drop in the company's gross margin guidance was much smaller than the decline in the margin guidance, and he expects its revenue to rebound in Q2. Li says that the decline in the stock has created a good entry point, and he keeps an Outperform rating on SMIC.
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