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Flash memory hardware firms continue to have a rough fall. STEC (STEC -21.9%) is nosediving due...
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Wednesday, November 7, 2012, 9:58 AM ETFlash memory hardware firms continue to have a rough fall. STEC (STEC -21.9%) is nosediving due to the Q4 guidance provided with its Q3 beat - a forecast for revenue of $36M-$40M and EPS of -$0.31 to -$0.35 is short of a consensus of $44.1M and -$0.22. Lazard and Craig-Hallum have downgraded shares in response - the latter cites low visibility on OEM ramps (an ongoing problem), cash burn, and risks related to STEC's new strategy to sell directly to companies building their own hardware - Fusion-io (FIO -1.9%) does the same. (transcript) (PR)
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