After a most recent rise from $28.00 in February to as high as $38.20 a few days ago, Affymetrix’s stock plunged 17% yesterday amid rumors of missed numbers and lower second quarter earnings expectations. The Company is under increasing pressure from other offerings in the gene expression space. While it has one of the most successful brands in biotech -- DNA chips are often simply called “Affy-chips” -- other companies are closing in rapidly. At this time, the gene expression market is growing at a good clip and customers are still finding new applications for the chips. That is good for Affymetrix but may not be enough.
