SanDisk Drops After Sales Forecast Falls Short of Estimates
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SanDisk Corp., which makes memory chips used in mobile devices, fell the most in three months after forecasting second-quarter sales that fell short of some analysts’ estimates.
The Milpitas, California-based company said revenue will decline to about $1 billion, plus or minus $50 million. Analysts on average had estimated sales of $1.28 billion, according to data compiled by Bloomberg.