Flash Moves to Fore

If there was any doubt about the central role that flash memory will play in the tech industry's future, it was put to rest Monday morning when Intel(INTC Quote) and Micron(MU Quote) teamed up to create new flash memory company with a half-a-billion-dollar order already on the books, courtesy of Apple(AAPL Quote).

The size of Apple's advance order raised eyebrows on Wall Street.

Apple, whose iPod nano uses flash memory, clearly wants to secure a supply of the vital component for what has become its most promising business. In the company's most recently reported quarter, iPod sales represented nearly one-third of Apple's total revenue. But according to some analysts, a $500 million order of flash should go beyond any immediate iPod needs. ...