I gave an AI two screenshots of TradingView's after-hours price and the next four quarters' EPS estimates. I had it add $4 per quarter to $Micron Technology(MU)$ and $0.10 per quarter to $Advanced Micro Devices(AMD)$ , assuming an expected beat for both.
Then I asked it to calculate the NTM PE and what the stock prices would be if they traded at each other's NTM PE.
$Micron Technology(MU)$ would be $7,108.90 if it had AMD's NTM PE.
AMD NTM EPS: $9.29 | AMD NTM PE: 57.97
MU NTM EPS: $122.64 | MU NTM PE: 9.68
MU at AMD's NTM PE: $7,108.90
AMD at MU's NTM PE: $89.88
So, if you believe AMD is worth $538, then by that logic, you should believe $Micron Technology(MU)$ is worth $7,108.90.
$1,600 by September looks like a conservative estimate for $Micron Technology(MU)$ to me.
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