This story has been updated from a previous version.

NEW YORK, June 12 – Affymetrix stock plunged  $14.94, or 36 percent, to close at $26.01 on Tuesday, following an announcement late on Monday that the company was slashing its second-quarter revenue expectations due to a drop in demand for the company’s gene chips and spot arrayers.

The company said its revenues for the quarter would total between $44 million and $50 million rather than $56 million to $58 million as previously expected.

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