INDIA - 2023/12/16: In this photo illustration, the Illumina logo is seen displayed on a mobile phone screen. (Photo Illustration by Idrees Abbas/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesAmid increased competition from China’s MGI Tech, Illumina’s stock (NASDAQ: ILMN) has dropped by 11% in a week. MGI Tech’s DNA sequencers are reportedly gaining market share, and despite a recent decline in its international sales due to U.S. sanctions, MGI Tech’s global market presen ...