Shares in Sun Microsystems have fallen by almost 15 per cent in the past 24 hours as analysts, then the company itself, warned of disappointing sales.
After dropping $1.80 to $18.67 at the close of the US market, shares had dropped to $17.29 by 9:30am BST on the Frankfurt stock exchange.
Goldman Sachs analyst Laura Conigliaro lowered estimates for the company on Tuesday, citing checks which "suggest that, even on downward revised expectations, Sun may have difficulty meeting forecasts".
After US trading closed, Sun said that sales for the three months to the end of June are expected to fall by around seven per cent compared with the period from January to March, to between $3.8bn and $4bn, compared with analyst estimates of $4.4bn.
The firm estimated that it would earn two to four cents a share that quarter, well below the six cents generally predicted by analysts.
Sun said that following the US slowdown, demand in Europe and Asia had now begun to ease.
Speaking to analysts, chief financial officer Michael Lehman said: "The demand in Europe has really tailed off. That's really been in the news in this conference call."
The evaporating dotcom bubble has hit Sun harder than the majority of bigger companies, and its share price has halved in the past year.
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