SanDisk (SNDK) on Monday lowered its Q4 revenue guidance, citing softer-than-expected sales of retail products and flash-drive memory chips, and its stock fell. The Milpitas, Calif.-based company said in a press release that it now expects revenue of $1.73 billion for the quarter ended Dec. 28. SanDisk had previously forecast revenue of $1.8 billion to $1.85 billion. SanDisk stock was down 13% in midday trading in the stock market today, near 85,
SanDisk (SNDK) on Monday lowered its Q4 revenue guidance, citing softer-than-expected sales of retail products and flash-drive memory chips, and its stock fell. The Milpitas, Calif.-based company said in a press release that it now expects revenue of $1.73 billion for the quarter ended Dec. 28. SanDisk had previously forecast revenue of $1.8 billion to $1.85 billion. SanDisk stock was down 13% in midday trading in the stock market today, near 85,
On Friday, equity research firm RBC Capital Markets reduced 2015 earnings estimates for chipmakers Intel (INTC) and SanDisk (SNDK). RBC also raised its estimates for Freescale Semiconductor (FSL). RBC reduced Intel’s estimates for Q4 earnings per share minus items to 65 cents from 67 cents, and cut the estimate for Q1 to 46 cents from 52 cents. Analysts polled by Thomson Reuters expect Q4 EPS ex items of 66 cents, up 29% from the year-earlier