ELI5: Why is storage so expensive right now?

Posted by rip-droptire@reddit | buildapc | View on Reddit | 20 comments

I paid $170 for a 2TB Samsung 870 Evo, a very standard SATA SSD, about a year and a half ago. It is now $670. That's absurd.

I haven't been paying attention to the industry all that much and just went storage hunting because I'm close to running out. What caused the spike in SSD prices?