It's no secret that tech stocks are powering a lot of market gains these days.
Jim Cramer took note of the trend on Monday night's "Mad Money" by removing
CEO Eli Harari from his wall of shame.
Here's a recap of the hubbub: Back in October, SanDisk and Harari rebuffed an acquisition offer from
. Made public in September, the offer would have given SanDisk $26 per share for a total deal value pegged at $5.85 billion.
According to published reports, SanDisk had wanted a price somewhere in the mid-30s. After SanDisk's cold shoulder, Samsung didn't bite and withdrew the offer in late October, earning Cramer's ire.
Since then, SanDisk has done nothing but create products that are very much in demand. Those moves earned Cramer's thumbs-up on last night's show.
The company is most well known for creating those handy little flash-memory cards. If you have a cell phone, a digital camera or music player, you probably know what we're talking about.
SanDisk recently re-cemented a licensing deal with Samsung last week. Giddy investors sent SanDisk shares soaring 14% on the day of the announcement.
But SanDisk is doing one better today. The company stared into the consumer technology abyss, and like a bunch of other tech companies, SanDisk came away with another future play: netbooks.
According to market research firm IDC, netbook purchases are set to rise from 11.5 million in 2008 to 50 million in 2013.
That type of finding is why tech aficionados took notice at the Computex Conference in Taipai on Tuesday. There, SanDisk said it began shipping two new solid state drives meant to be used in netbooks. The flash-based drives are being touted by the company as a cheap, fast alternative that will drain less energy than other market drives.
SanDisk also announced the creation of removable SDHC cards -- 8GB and 16GB -- for netbooks as well.
Still, investors weren't impressed in midday trading. Shares were changing hands in negative territory, down 2.3% by early afternoon.
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