Micron, Samsung, SK Hynix Gain 200-300% in 2026, Yet Trade at 6-9x P/E Multiples

According to MarketWatch, Micron Technology's earnings per share jumped 756% year-over-year in the latest quarter, while Samsung Electronics and SK Hynix saw EPS surge roughly 500% and remain on track, yet all three trade at single-digit price-to-earnings ratios. As of this week, Micron trades at approximately 9x forward P/E, while SK Hynix and Samsung hover around 6.5x—substantially below Nvidia's 23x and the S&P 500's 20.3x. Despite soaring profits and share prices up 200-312% year-to-date, memory chip makers remain undervalued compared to broader tech stocks, a gap analysts attribute to the cyclical nature of semiconductor supply and investor skepticism about earnings sustainability.
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