Shares of SanDisk Corp., a maker of chips used to store data in mobile devices, fell as much as 10 percent Wednesday after the company reported profit margins and forecast sales that fell short of some analysts’ estimates.

Revenue in the current period will be $1.68 billion to $1.73 billion, Chief Financial Officer Judy Bruner said on a conference call. That compares with an average analyst estimate of $1.74 billion, according to data compiled by Bloomberg. Gross margin, or the percentage of sales remaining after deducting costs of production, was 46 percent in the second quarter. The average estimate was 49 percent.

SanDisk, whose stock had rallied 53 percent this year, has held back on increasing production, seeking to avoid a repeat of supply gluts that have caused chip prices to fall below the cost of manufacturing. The chipmaker expects it won’t have enough chips to meet all orders this quarter, it said.

The shares of the Milpitas, California-based company traded as low as $96.65 in extended trading following the announcement, and shortly before 7 p.m. in New York traded down 9.1 percent at $97.99. They had earlier closed up 2.2 percent at $107.83.

Wednesday’s forecasts don’t include any contribution from the acquisition of Fusion-io Inc., which SanDisk said it was buying for about $1.1 billion on June 16.