Memory chipmaker SanDisk Corp forecast current-quarter and full-year 2015 revenue well below Wall Street expectations, saying it would be unable to meet demand for flash memory storage chips until mid-year due to lean inventory levels. Shares of the company, which supplies memory chips for Apple Inc's iPhones, fell about 8 percent to $74.05 in after market trading. Analysts were expecting revenue of $1.60 billion, according to Thomson Reuters I/B/E/S. SanDisk, which is struggling to meet demand for new NAND memory chips, widely used in smartphones, cameras and other mobile devices, expects revenue to fall in the first and second quarters, compared with a year ago, as it works to ramp up inventory levels. SanDisk's failure to add production capacity in the past two years has led to the weaker-than-expected forecast, Pacific Crest Securities analyst Monika Garg said.
via Tech News Headlines - Yahoo News http://ift.tt/1BHwtQl
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