SanDisk Drops 14% as Margins, Forecasts Miss Estimates
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SanDisk Corp., whose chips store data in mobile devices, tumbled 14 percent after the company’s profit margins and sales forecasts fell short of some analysts’ estimates.
The shares of the Milpitas, California-based company slid $14.62 to $93.21 at the end of trading in New York, their first close below $100 in a month and the worst one-day decline since February 2009. The stock is up 32 percent this year.