Say Goodbye to Micron's Fat Profits

The average selling price for DRAM chips rose 8% in Micron's fiscal 2021 as demand outpaced supply. Combined with higher bit volumes and the constant driving down of per-bit manufacturing costs, Micron's profits went through the roof. Micron churned out $5.86 billion of net income on $27.7 billion of revenue in fiscal 2021.