Yup, I'd say it's going to be even a tougher next quarter...Not just for Q but every semi company counting on overseas business....51% of revenue from China, that's just wth the Q.... Wack 2% off just on currency fluctuations.
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2% will be added to the already announced 15% right-sizing. This will be right-right-sizing.
It's like apple 64 bit. Nobody could've seen it coming.
yesterday's devaluation was declared as a one off event. today's devaluation is a direct contradiction to yesterday's declaration. more to come? At least we can blame currency headwinds now. Much like blaming the weather for earnings misses like in retail and real estate. It's the El Nino year of FX headwinds.