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The latest data point for MU's EV/EBITDA ratio in Q2'26 stands at 62.98, marking a significant surge from the previous quarter's value of 12.53 in Q1'26 and indicating heightened market valuation relative to earnings. Over the period from Q3'23 to Q2'26, the EV/EBITDA ratio exhibited high volatility, peaking at 63.18 in Q1'24 before declining sharply to a low of 7.71 in Q2'25, followed by a gradual recovery through Q4'25 and a dramatic rebound in Q2'26. This pattern suggests periods of market optimism and subsequent corrections, with the area chart highlighting an overall unstable trend that financial analysts should monitor for potential overvaluation risks in the semiconductor sector.