NEW YORK (TheStreet) -- Shares of Micron Technology (MU) - Get Report were falling 2.2% to $25.98 Thursday morning after competitor SanDisk (SNDK) warned it will report lower first quarter revenue than previously expected.

SanDisk announced that it now expects revenue of about $1.3 billion for the first quarter. The chipmaker previously forecasted first quarter revenue in the range of $1.4 billion to $1.45 billion. Analysts expect the company to report earnings of $1.44 billion for the quarter.

The lower revenue forecast is due to "certain product qualification delays, lower than expected sales of enterprise products and lower pricing in some areas of the business," SanDisk said. The company also lowered its full year 2015 revenue forecast but did not provide a definite range for its current forecast.

Micron and SanDisk are competitors in the NAND flash memory space.

Shares of SanDisk were falling 17.7% to $66.84 following the warning.

TheStreet Ratings team rates MICRON TECHNOLOGY INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate MICRON TECHNOLOGY INC (MU) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, attractive valuation levels and solid stock price performance. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• MU's revenue growth has slightly outpaced the industry average of 10.5%. Since the same quarter one year prior, revenues rose by 13.1%. Growth in the company's revenue appears to have helped boost the earnings per share.
• The current debt-to-equity ratio, 0.49, is low and is below the industry average, implying that there has been successful management of debt levels. To add to this, MU has a quick ratio of 1.56, which demonstrates the ability of the company to cover short-term liquidity needs.
• The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. Compared to other companies in the Semiconductors & Semiconductor Equipment industry and the overall market, MICRON TECHNOLOGY INC's return on equity significantly exceeds that of both the industry average and the S&P 500.
• Compared to where it was a year ago today, the stock is now trading at a higher level, reflecting both the market's overall trend during that period and the fact that the company's earnings growth has been robust. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.
• You can view the full analysis from the report here: MU Ratings Report