Micron Technology (MU -0.83%) stock looks incredibly cheap. However, it's not often as simple as looking at earnings multiples to assess whether a stock is a good buy or not. For investors, the big uncertainty relates to the supply shortage in memory and storage products. Expand NASDAQ : MU Micron Technology Today's Change ( -0.83 %) $ -7.18 Current Price $ 853.82 Key Data Points Market Cap $972B Market cap calculated using publicly traded shares outstanding only. Micron may still have more room to rise this year, but it's a stock investors can't simply buy and forget about, as it has been highly volatile, and that may not change anytime soon.