a competitor to ILMN called Affymetrix (AFFX) blew up after hours last night - missed estimates for this whole year bad so stock was down 23%. ILMN was trading down a couple of dollars in sympathy. AFFX has been a dog for quite some time -- they have been beaten time and again by ILMN and others so don't read too much into their miss. On the other hand, I think the issue for ILMN is what happens if they just meet estimates and don't raise -- the valuation is too high for that kind of report. Now the last few days are taking some of the air out of the valuation but its still pretty high.
next week they report -- should be interesting -- will read up on what the analysts have to say too.
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