Newly Overvalued Stocks This Week

Micron Technology and SK Hynix are among the newest U.S.-listed stocks flagged by Morningstar as expensive, joining a broader market picture that remains only moderately undervalued. As of Sept. 25, the Morningstar US Total Market Index rose 1.11% over the prior week and sat at an 8% discount to fair value on a market-cap-weighted basis. Of 872 stocks covered, 19% are overvalued and 13 are newly overvalued this week. The five largest new 2-star stocks are Micron, SK Hynix, Palo Alto Networks, Amgen and Qualcomm. New 1-star stocks include Arm, Illumina and Brinker International.