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Technology Stocks : WDC/Sandisk Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Ausdauer who wrote (5341)	4/10/1999 6:52:00 PM
From: Ron C	Respond to of 60323

Thread: Anyone see this? ? SanDisk Falls on Speculation it May Miss 1st-Quarter Estimates SanDisk Falls on Speculation it May Miss 1st-Quarter Estimates Sunnyvale, California, April 8 (Bloomberg) -- SanDisk Corp. shares fell 7 percent on speculation posted on Internet message boards that the maker of memory chips used in digital cameras may fall short of fiscal first-quarter estimates, analysts said. SanDisk fell 1 3/4 to 23 1/4, on trading of 1.2 million shares, more than double the three-month daily average. Shares earlier touched a low of 17. Its shares are up 65 percent for the year, but have fallen from a 52-week high of 37 5/8 on March 9. Recent postings on a Yahoo! Inc. message board about the company's earnings probably triggered the decline, analysts said. The analysts also said they are confident that Sunnyvale, California-based SanDisk, a maker of memory devices used in computer notebooks, cellular phones and digital audio players, will meet expectations. ''They are going to make the quarter, and we like the stock,'' said Joseph Osha, a Merrill Lynch & Co. analyst, who rates the shares an intermediate and long-term ''accumulate.'' The company is expected to report earnings for the fiscal first quarter ended March 28 of 13 cents a share, the average estimate of five analysts surveyed by First Call Corp. A year earlier, the company reported net income of $4.7 million, or 17 cents a share. Brandon Talaich, a SanDisk spokesman, declined to comment. The company is in its ''quiet period'' before release of its earnings on April 14 after the close of U.S. trading, he said. Osha, in a March 23 report on SanDisk, said he thought the recent decline in the share price was a reaction to reports of new products from competing companies. ''We think those worries are misplaced -- indeed, we believe SanDisk's CompactFlash format has already won the standards battle,'' Osha wrote. Flash memory allows the user to store data when the power is off. SanDisk competes with Japan's Toshiba Corp., which makes a similar line of products called SmartMedia and with Sony Corp.'s Memory Stick. NYSE/AMEX delayed 20 min. NASDAQ delayed 15 min. Access More Information and Services Above ©1999 Bloomberg L.P. All rights reserved. Terms of Service, Privacy Policy and Trademarks. Ron C.