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Micron Stock Looks Cheap, but This Downturn Is "Unprecedented"

Micron Stock Looks Cheap, but This Downturn Is "Unprecedented"

Memory chips are, for the most part, commodities. When you manufacture commodity products, how much you can charge is largely based on supply and demand. In the fiscal year ended Sept. 2, 2021, Micron produced net income of $5.86 billion on $27.71 billion of revenue.