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SanDisk Sell-Off Doesn t Defeat Second Half Turnaround

Posted on May 21, 2008

Speaking at a JP Morgan Chase investors conference earlier in the week, SanDisk Corp. (SNDK) CEO Eli Harari was pessimistic about the U.S. consumer which sent shares of the flash memory maker down by 11.8%. The intensity of the move lower was surprising and probably fed by profit taking (shares were up 63.7% since bottoming on Mar. 20) and bearing in mind that the rally had built up expectations of a better pricing environment, a disconcerting analyst note from Lazard Capital s Daniel Amir who warned of downside in NAND pricing. Barron s reports that Samsung is likely to reduce its NAND pr...

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