Cambricon stock tumbles after warning of investor ‘exuberance’
AI chipmaker Cambricon sank around 7.5% on the Shanghai exchange, snapping a 140% YTD rally, after cautioning investors that its surge may have overshot fundamentals. Risks cited include lofty P/E multiples, supply chain issues, US blacklist risk after warning of investor "exuberance". Despite H1 revenue surging 4,000% YoY, management urged "rational investing".