Memory Chip Stocks Hammered Following Profit Warning (MU, SNDK, RMTR, ISSI, NVEC, RMBS)
Shares of memory chip maker Micron Technology (MU) are plunging 4% after South Korean rival Hynix said it may miss analysts’ consensus estimate for operating profit in the second half of 2011. The news from Hynix is having a broad-based, negative impact on U.S.-listed memory chip makers as the Memory Chip Stocks Index is plummeting 2.1% today.
SanDisk (SNDK) is proving it isn’t immune from the memory chip carnage today as its shares are down 3%, but ThinkEquity attempted to come to the stock’s rescue, saying SanDisk shares should be bought at current levels, noting that the company is poised to generate strong results in the second half of this year. ThinkEquity said it believes the supply/demand environment is positive for SanDisk.
Ramtron International (RMTR) is also down 3% while Integrated Silicon Solution (ISSI) and NVE (NVEC) are both lower by 2%. Rambus (RMBS) is the only Index member in the green today with a gain of 1%. The Index is down about 7% in the past three months.
Investors can track the Memory Chip Stocks Index for performance trends and a suite of other metrics at tickerspy.com.
More on this topic (What's this?)
(SNDK) Will SanDisk’s First Quarter Earnings Beat? (Stock Blog Hub, 4/15/13)
(SNDK) SanDisk Beats First Quarter Earnings Forecast – Guidance Upbeat (Stock Blog Hub, 4/21/13)
NVEC (Samurai Trader, 8/24/11)
|Home | Find | Research | Track | Register | My Account | Logout||Web site design by LightMix|
|© 2011 Indie research Corp. All rights reserved.|