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Article: United States: SanDisk Drops After Chief Calls Consumer Sales `Soft'.
- Article from:
- TendersInfo
- Article date:
- May 24, 2008
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Byline: shahma05
SanDisk Corp., the world's largest maker of flash-memory cards, fell the most in two months in Nasdaq trading after Chief Executive Officer Eli Harari said sales to makers of consumer products were ``soft'' last month.
Rising oil prices have prompted consumers to tighten their budgets, Harari told analysts at a conference sponsored by JPMorgan Chase & Co. today. Milpitas, California-based SanDisk's memory cards are used in consumer electronics such as digital cameras and media players.
``Gas prices are weighing and will weigh on consumer patterns,'' ThinkPanmure analyst Vijay Rakesh said in an interview today from Chicago. ...