Is Micron Technology, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Micron Technology, Inc. has moved from very attractive to attractive. The company appears to be fairly valued based on its current metrics. Key valuation ratios include a P/E ratio of 28, an EV to EBITDA of 9.54, and a PEG ratio of 0.13, which suggests strong growth potential relative to its price.
In comparison to peers, Micron's P/E ratio of 25.58 is significantly lower than NVIDIA Corp.'s 47.72 and Broadcom Inc.'s 82.00, indicating that Micron may be undervalued relative to these competitors. Additionally, QUALCOMM, Inc. presents a more favorable valuation at a P/E of 14.62, highlighting Micron's competitive positioning in the industry. Notably, Micron has outperformed the S&P 500 with a year-to-date return of 140.47% compared to the index's 13.30%, reinforcing the attractiveness of its current valuation.