Sandisk SNDK reduces Q4 guidance to $1.73 billion from $1.8 - $1.85 billion. Sandisk also reduces non-GAAP gross margin guidance to 45% from 47-49%. This weakened the entire semiconductor sector today. Tech down -1.3% today, and semiconductors down -1.4%. Energy the only sector down more than tech today, -2.8%.
Today's Sandisk release on updated Q4 guidance.
Michael Grove, CFA