Is Micron Technology a Good Value in this Economy?

It's no secret that the stock market is overvalued. The S&P 500's (SNPINDEX: ^GSPC) current price-to-earnings (P/E) ratio is sitting at just over 30, which is nearly double the index's average P/E of 16 over its entire history. The S&P 500's P/E ratio has only been higher than it is now three times, and none of those ended well for investors. First was the dot-com crash from 1999 to 2001. Second was the global financial crisis, which occurred from 2007 to 2011. And most recently was during the peak of the COVID-19 pandemic.The circumstances of each of those crashes were very different, but the common thread remains and shows that a high P/E for the S&P 500 is generally not a good sign for the stock market in the near future.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool