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In its quarterly earnings report Monday, SanDisk also announced plans to delay investments in new chip factories to combat the oversupply of NAND flash chips that has pressured prices.
The Milpitas, California maker of flash memory chips said sales in the three months ended June 29 totaled $816 million, significantly below the average analyst expectation of $906 million.
Shares of SanDisk dropped 24% Tuesday to close at $4.31, while Juniper dropped 5% to $22.36 and Applied Materials fell 2% to $17.39.
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