The company blamed the miss on a NAND flash memory chip shortage.

FORBES: OCZ Technology Shares Fall 20% On Earnings Warning

Shares of flash memory chip maker Spansion are taking a beating Friday after the company disclosed weaker than expected Q3 results and highly disappointing guidance for the fourth quarter.

FORBES: Spansion Tumbles On Weak Outlook; Cites Macro Weakness

This obviously spells opportunity for chip makers such as Intel and AMD, along with flash memory players like SanDisk.

FORBES: Tablets No Prize For SanDisk