$Micron Technology(MU)$ Been looking at forward multiples across the historically cyclical chip names. MRVL sits up around 65-70x, NVDA is in the 45-55x range, while AMD and ASML are both closer to 35x. AVGO comes in around 24x, then LRCX at 23x, TXN around 22x, and AMAT near 21x. TSM and SK Hynix are both around 20x, QCOM is at 18x, Samsung around 17x, and INTC down near 15x. Then you look at MU and it is sitting at roughly 6x. Just for reference, even a 12x multiple on MU would imply something like a $1,800 share price.
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