Affymetrix (AFFX) – Competition leaves Affymetrix in Despairing Wake

Affymetrix specializes in genetics offering the best products to better understand genetics and deliver correct results. However, despite the technology Affymetrix uses, on Wednesday, January 13th; an analyst warned Affymetrix that their equipment and products may become obsolete. This is due to competing rivals with newer ideas, and more efficient products than the older Affymetrix and its products. Customers won’t want to purchase from an older company, rather they would purchase from the most efficient newer ideas filled companies.

Anthony Butler, an analyst at Barclays, predicted that the company would lose 21 cents a share with $331 million in revenue in 2010, but Thomson Reuters says analysts are predicting a loss of 14 cents a share with $338.7 million in revenue in 2010.  Butler also determined the company “Underweight” from its original “Equal Weight” position.  The company has been lowering the prices on their products in order to keep up with competition. But technology and high pricing haven’t been the only factors causing this warning, the company has also faced many manufacturing problems. Such as manufacturing from a base in Indonesia, which has yet to conduct results for the company.

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