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NPTN - NeoPhotonics: It's Too Early To Tell If The Company Is In The Clear
NeoPhotonics Corporation
NeoPhotonics (NPTN) did better than expected in terms of Q2 earnings. As a result, the stock has rallied by about 35% since the earnings release on August 5. In fact, the stock has almost succeeded in erasing the drop in the aftermath of the restrictions imposed on Huawei.
Recall that Huawei was placed on the U.S. government's Entity List in May, which means that U.S. companies are restricted in doing business with Huawei. The stock of NeoPhotonics fell because Huawei accounts for almost half of its revenue.