- SMIC went on a huge run in 2020, backed by several factors that came together to create an almost ideal environment for the company.
- The rally was interrupted when the U.S. government imposed new restrictions on some of SMIC's customers and then the company itself.
- SMIC is widely assumed to be in trouble without U.S. technology, but there are reasons to think the company may not be in such a perilous state as believed.
- The bear case rests on one fundamental principle and if that goes away, SMIC may resume where it left off since all other conditions helping it go up remain.
For further details see:
Why Semiconductor Manufacturing International Corporation Could Still Be A Long Despite Bearish Perceptions