Valuation

Below SPX Forward PE · 2026-05-03

10 popular AI / mega-cap names trading below the S&P 500's 2026 forward earnings multiple (~22-23x). Ranked cheapest first: MU at 6x, SNDK at 8x, then ADBE, TTD, PATH, CRM, QCOM, META, OKTA, NOW. Convergent with prior screens — MU and SNDK keep showing up across YTD performers, the DRAM ETF, and the PEG snapshot. Multiples move daily; this is a one-day snapshot, not a live tracker.

source: tweet-stocksavvyshay-2026-05-03

#1
MUMicron Technology, Inc.
6x — cheapest on the screen. HBM memory for AI accelerators; FY26 op-income est ~$77B (+684% YoY). Convergent with DRAM bubble + PEG <1 + Top Performers +90% YTD.
6x
FWD PE
$666.59last
$341fib
+95.5%vs fib
#2
SNDKSanDisk Corporation
8x — NAND flash post-WDC spinoff. Already in Top Performers (+400% YTD) and PEG <1 (~0.5x). Riding AI memory demand.
8x
FWD PE
$1409.98last
#3
ADBEAdobe Inc.
10x — creative-cloud incumbent re-rated lower on AI-displacement fears; Firefly + agentic-creative pivot still has to prove out.
10x
FWD PE
$250.17last
#4
TTDThe Trade Desk, Inc.
12x — CTV + retail-media ad-tech; Kokai platform re-acceleration after the 2025 slowdown.
12x
FWD PE
$24.01last
#5
PATHUiPath Inc.
13x — UiPath enterprise RPA pivoting to agentic AI; small-cap, consolidation candidate.
13x
FWD PE
$10.50last
$10fib
+5.0%vs fib
#6
CRMSalesforce, Inc.
14x — Salesforce repricing as agentic-AI platform; Agentforce monetization + Data Cloud cross-sell are the watch items.
14x
FWD PE
$181.19last
#7
QCOMQUALCOMM Incorporated
18x — smartphone modem cash cow + diversification into auto, IoT, and on-device AI inference.
18x
FWD PE
$192.57last
#8
METAMeta Platforms, Inc.
19x — ad-platform compounding; AI Capex pressuring the multiple; Llama franchise underappreciated. PEG ~1.6x in 038.
19x
FWD PE
$612.88last
#9
OKTAOkta, Inc.
20x — identity-as-a-service; SailPoint pressure + agentic-AI identity adjacency are the swing factors.
20x
FWD PE
$77.44last
#10
NOWServiceNow, Inc.
20x — ServiceNow Agentforce + workflow consolidation. PEG ~0.7x in 038 — flagged "mispriced" there too.
20x
FWD PE
$89.05last