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Thursday, March 6, 2008

Intel confirms NAND writedown

Yesterday, Intel's CFO confirmed they'll take a big NAND writedown this quarter. She also said they're selling twice as many bits for less than half the price sequentially -- prices have dropped over 50% q/q. She said they're too dependent on one customer -- she didn't name 'em but it's Apple. That's what I figured.

Micron's NAND results won't be pretty either.

Though pricing sounds horrific, I would think some of this has to do with mix and dependence on the iPod. I wouldn't draw a conclusion that Intel's pricing is indicative of Sandisk's market. Sandisk is more dependent on retail pricing. Apple's weakness actually helps their back-assed P&L because the overall market is softer and they buy parts for repackaging into cards cheaper. Retail pricing sucks too, though, so stay away from Sandisk.

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