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It's time to take profits on SanDisk (SNDK -3.7%), suggests JMP's Alex Gauna, who's downgrading...

It's time to take profits on SanDisk (SNDK -3.7%), suggests JMP's Alex Gauna, who's downgrading shares to Market Perform following a 45% run-up from June lows. High expectations, a slowdown in NAND pricing improvements, and iPhone 5 supply constraints could affect shares ahead of SanDisk's Q3 report, Gauna argues. On Friday, Avian urged caution with SanDisk due to stabilizing pricing and soft demand in certain end-markets. NAND rival Micron (MU -3.1%) is also lower.
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