Shares of SanDisk (NasdaqGS: SNDK) are off 17% today and earlier touched a new 52-week low after the maker of flash memory products pared its first-quarter revenue estimate to $1.3 billion from $1.4 billion to $1.45 billion while withdrawing guidance for upcoming quarters.

The SanDisk shock is being felt throughout the semiconductor space and comes on the heels of ominous guidance from major semiconductor firms such as Dow component Intel (NasdaqGS: INTC) and Taiwan Semiconductor (NYSE: TSM).

The Market Vectors Semiconductor ETF (NYSEArca: SMH), home to nearly $396 million in assets under management, is trading slightly lower today, extending losses that have seen the ETF shed 5.6% over the past week. Intel and Taiwan Semiconductor combine for nearly 33% of SMH’s weight, which is not a positive trait at a time when some analysts are lowering price targets and EPS estimates on the Apple (NasdaqGS: AAPL) supplier. [Global Tech ETFs at Risk]

SanDisk is also a major Apple supplier, relying on the iPad maker for almost 20% of sales.

The $546.1 million iShares PHLX Semiconductor ETF (NasdaqGM: SOXX) is also trading lower Thursday, extending its one week loss to 6.7%. SOXX features SanDisk as its eighth-largest holding at a weight of 4.1%. The ETF is also home to several SanDisk “sympathy” plays, including Micron Technolgy (NasdaqGS: MU) and former high-flier Skyworks Solutions (NasdaqGS: SWKS), which is lower by more than 4% today.

SOXX also devotes over 11% of its combined weight to Intel and Taiwan Semiconductor, underscoring the ETF’s vulnerability at a time of weakness for the major chip manufacturers. [Chip ETFs Endure Intel Weakness]