Big news about Illumina, a company that makes machines to study DNA! China recently stopped Illumina from selling its machines there. This is a big deal because China is a pretty important customer.
Illumina is now expecting to make a little less money this year. They're also cutting costs to make up for the lost sales in China.
Despite this, Illumina's stock price actually went up a bit! This is because investors are hoping the company can adapt and still be successful.
- China banned Illumina's DNA-sequencing machines.
- Illumina will make less money this year because of this.
- The company is saving money to deal with the problem.
- Illumina's stock price increased after the news.
| Fact | Number |
|---|---|
| China's share of Illumina's sales | 7% |
| Illumina's 2024 revenue from China | $308 million |
| Expected adjusted profit per share in 2025 | ~$4.50 |
| Stock price increase (after hours) | 3.5% |
