Although we don’t believe in timing the market or panicking over market movements, we do like to keep an eye on big changes—just in case they’re material to our investing thesis.

What: Shares of flash technology specialist SanDisk (Nasdaq: SNDK) plunged as much as 10% in intraday trading Friday for reasons that escape me, frankly.

So what: SanDisk is profiting from the proliferation of advanced devices that use flash memory technology -- smartphones and tablets, for example. In Q4, the company reported a 43% increase in earnings. Revenue rose 7%. Both results beat the average analyst estimate, Reuters reports.

Now what: What gives? I've no idea. Maybe it's simply an early Valentine's Day gift from Mr. Market. He loves you even if he hates SanDisk.

But he really has no cause to. Following today's sell-off, the stock trades about in line with Wall Street's expectations for earnings growth over the next five years. Any meaningful uptick in the market for flash could result in SanDisk walloping those estimates and producing big returns for today's shareholders.

Interested in more info on SanDisk? Add it to your watchlist.

Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team. He didn't own shares in any of the companies mentioned in this article at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Twitter as @milehighfool. You can also get his insights delivered directly to your RSS reader. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool is also on Twitter as @TheMotleyFool. Its disclosure policy is at least 10% better than other disclosure policies.