The primary catalyst driving the sharp upward movement in SanDisk’s stock is a direct confirmation of massive pricing power from the buyer side of the market. Apple CEO Tim Cook recently told the Wall Street Journal that price increases across major hardware lines, including iPhones, Macs, and iPads, are unavoidable. Cook described the ongoing memory and storage supply crunch as unsustainable for consumer electronics buyers. Because Apple is one of the world’s largest purchasers of hardware components, this public admission signaled to investors that memory chip and storage suppliers, particularly NAND flash manufacturers like SanDisk, hold unprecedented leverage in contract negotiations.

This pricing power is a direct consequence of…