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Strategies & Market Trends : The New Economy and its Winners

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From: Bill Harmond

1/11/2017 12:51:23 PM

of 57684

11-Jan-17
07:52	ACIA Acacia Communications defended at Needham after firm's Growth Confernece (57.54 )
	Needham attended a one-on-one and the presentation/Q&A of Acacia. Broadly speaking, the tone was confident and upbeat. Mgmt noted they expect continued growth and share gains with growth in Metro, DCI, and China driving results. On China: In the one-on-ones, Acacia was clear they see strong demand in China and expect solid growth. While there is always some seasonality in China in CY1Q with the new year, the demand remains strong. In the conf. presentation, the comment seemed a little less confident, but they think based on the prior conversation this reflected a bit of a stumble, not a change in tone. Acacia expects strength and demand remains strong; there was no hedging to that point. Within China, there is a shift from spending on the national backbone to spending in the provincial build-outs. Acacia made the point that they expect this demand to be spread out over multiple quarters. Acacia noted: "The POs are coming through as expected and we expect strength from this market." CY1Q in China always starts a little slow but picks up robustly as the quarter progresses; $125 tgt.

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