Shares of Silicon Motion–the Taiwanese maker of chips that control flash memory and computer cameras–are falling after the company this morning said the current quarter’s decline in sales will be much deeper than previously thought, falling 25 to 30 percent sequentially, vs. a prior forecast of 10 percent.
Shares of flash memory chipmaker SanDisk (SNDK) are falling $1.89, almost 11 percent, to $15.75 this afternoon following a note by Citigroup analyst Craig Ellis today that says 2009 earnings estimates are in jeopardy for the company because contract prices for flash are plummeting.
SanDisk (SNDK) reported a very ugly second quarter, posting revenue of $816 million and a pro forma loss of 10 cents a share, well short of the Street consensus of $906.8 million and a profit of 13 cents.
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