Yep, looks like the egg heads seem to think that was the market bottom....I guess we'll see.
One thing's for sure.....the big tech companies are still spending tons of cash...Daddy wants some!
MC
By Soham Chatterjee
(Reuters) - Chipmaker SanDisk Corp forecasts current-quarter revenue below analysts' estimates due to supply constraints.
SanDisk's shares fell 5 percent in extended trading, after the company also reported lower-than-expected revenue for the third quarter.
SanDisk, a supplier of memory chips for Apple Inc's iPhones, in June bought Fusion-io Inc, a solid-state storage products maker.
Rival Samsung Electronics Co Ltd said last week that it would spend $15 billion to build a major new factory in South Korea to make either memory chips or logic chips.
SanDisk forecast revenue of $1.80 billion-$1.85 billion for the fourth quarter ending December. Analysts on average were expecting $1.88 billion, according to Thomson Reuters I/B/E/S.
The company's GAAP net income fell 5 percent to $262.7 million, or $1.09 per share, in the third quarter ended Sept. 28 as expenses rose 25 percent from the prior quarter, mainly due to costs related to restructuring and the acquisition of Fusion-io.
Excluding the restructuring items and other non-cash items, SanDisk earned $1.45 per share.
Revenue rose 7 percent to $1.75 billion. Continued...
