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Strength in the NAND flash memory chip market, and from Apple’s (AAPL) iPhone in particular, should help SanDisk (SNDK) beat expectations when it reports Q2 earnings when it reports tomorrow, according to a note today from Stifel Nicolaus analyst Patrick Ho.

Ho doesn’t formally cover SanDisk: he’s more interested in the implications for some of his coverage companies, including Teradyne (TER) and Verigy (VRGY), both of which he rates “Buy.” Those two companies make chip test equipment.

The semiconductor capital equipment sector is showing strength today, following a bullish note this morning on the group by Barclays Capital analyst C.J. Muse.

Verigy (VRGY) this afternoon said it plans to offer $110 million of unsecured convertible senior due 2014 to qualified institutional buyers. The company will grant purchasers the right to buy $16.5 million to cover over allotments. Proceeds will be used for general corporate purposes, potentially including acquisitions and strategic transactions.

Verigy (VRGY) shares are trading higher this afternoon after the producer of semiconductor test equipment posted better-than-expected results for its fiscal second quarter ended April 30.

VRGY reported revenue of $71 million, up 4% sequentially, down 56% year over year and above the Street consensus of $61 million. The company had a non-GAAP loss in the quarter of 44 cents a share; the consensus estimate was for a loss of 65 cents.