Shares of memory maker Sandisk fell by 20% despite higher reported profit, because investors fear that the company does not have the pricing power to sustain those profits. Some folks would say that the memory business is particularly price-sensitive, and they’d be right. But whose business is not price-sensitive? The memory chip makers just happen to keep pricing front-and-center in their SEC statements because investors demand it. CFO’s who currently view pricing as “someone else’s problem” will have a rude awakening when their stocks lose ground to more pricing-savvy firms.

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