Micron’s stock falls into a bear market — and it’s now the cheapest in the S&P 500

Micron is trading at the lowest forward price-to-earnings ratio among all stocks in the S&P 500. - MarketWatch photo illustration/iStockphoto The combination of a swift recent decline in memory stocks and a rapid rise in Micron Technology’s earnings estimates has made the memory company’s shares incredibly cheap. Just how cheap? Micron’s stock MU now trades at 4.5 times expected earnings per share for the next 12 months, based on the consensus estimate among analysts polled by LSEG. That makes the chip s ...