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 computer and gadget memory specialist SanDisk (Nasdaq: SNDK) look hot today as they've risen 10.1% on above-average trading volume.

So what: SanDisk's second quarter made fun of Wall Street expectations with 17% year-over-year revenue growth and 11% higher earnings. The company was able to overcome ever-lower product prices with dramatically higher unit sales.

Now what: In particular, SanDisk likes what's going on in retail channels of emerging markets where the company claims to be stealing market share from Micron Technology (Nasdaq: MU), Samsung, and Eastman Kodak (NYSE: EK), to name a few of the most prominent Flash-card producers. In fact, SanDisk's average prices might be declining a little slower than most as the company augments its commodity products with a healthy helping of premium memory products like embedded RAM chips. And the recent supply glut in all kinds of memory markets may be receding as SanDisk actually claims to have trouble keeping up with demand now.

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

Fool contributor Anders Bylund owns shares of Micron Technology, but he holds no other position in any company mentioned. Click here to see his holdings and a short bio. Try any of our Foolish newsletter services free for 30 days. 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 has a disclosure policy.