Explainer: Why Micron Looks Cheaper Than It Actually Is Right Now

Published July 9, 2026 · Category: Finance

Overview

Micron Technology (NASDAQ: MU) is one of the hottest stocks in the market right now. Massive demand for its memory chips has driven prices higher over the last year, leading to record-breaking earnings for the company. Still, the stock trades for just 13.6 times analysts' earnings expectations for the next 12 months. For comparison, the S&P 500 trades for close to 22 times forecast earnings.

Many investors have pointed out how cheap Micron appears to be at its current price. In fact, Micron's the largest position in the Vanguard Value ETF, suggesting the stock is undervalued right now. But the truth is Micron's not as cheap as it looks. Here's why.

Image source: The Motley Fool.

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Originally published at www.fool.com.

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