SanDisk shares are coming under pressure this morning after Needham analyst Y. Edwin Mok cut his rating on the stock to Under Perform from Hold.
Mok writes in a research note that the downgrade reflects “early signs of weakness in the NAND flash memory sector that we believe will lead to lower prices.”
Now that we’re experiencing Q4 earnings reports in all their glory, the time has come to shift focus to Q1. That’s what Needham chip analyst N. Quinn Bolton did this morning. And the picture is not pretty.
He estimates that Q1 revenue will be down 15-20 percent compared to his previous estimate of 10 percent.
Stamps.com (STMP) shares dropped sharply today after Needham’s Mark May cut his rating on the stock Under Perform from Hold.
May notes that the company has a large cash position–about $4.64 a share–which generates about 50 percent of its pre-tax income.
Needham’s Charlie Wolf this morning cut his rating on Research In Motion (RIMM) to Underperform from Hold and cut his estimates on the company to reflect the growing threat from explosive sales of the Apple (AAPL) iPhone 3G.
Needham’s Charlie Wolf this morning raised his rating on Netflix (NFLX) to Hold from Under Perform, and lifted his price target on the Web-based video rental company to $25 from $22. Wolf said he has revised his model of the company’s business, and that his previous model “materially under-estimated the value of the company.”
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