$Micron Technology(MU)$ If MU

$Micron Technology(MU)$ If MU doubles, its 12-month forward PE would only be 15.2 with a PEG of 0.52. Let that sink in. A double from there, which would be 4x from today's price, would still only give it a PE of 30.4 and a PEG right at 1.04. That's a very fair valuation for any AI stock, even at four times the current price. Try to find a decent AI stock with a 30 forward PE and a PEG at 1.0—you can't. That's likely why the smart money is moving into MU now. Do your own research and check these metrics for NVDA, INTC, or any other company you follow. The current “discount” to fair value seems tied to the perceived cyclicality of chip stocks. I'm not convinced that holds true anymore.

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