Sandisk (NASDAQ:SNDK) Selloff Tests Long-Term Revenue Backlog
Sandisk Corporation dropped around $22.6 billion in market cap Wednesday, or about 3.6 times the part of its long-term order book that's expected to turn into revenue in the coming year. Shares slid 8.1% to $1,615, putting the flash-memory company’s value at about $253.6 billion.