Note that Intel had a P/E of about 9 as of March 2021 - I remember because I bought it. Three years later, with the stock having gone down by ~8%, its P/E is n

Note that Intel had a P/E of about 9 as of March 2021 - I remember because I bought it. Three years later, with the stock having gone down by ~8%, its P/E is now 108. Oftentimes when investors discount a stock relative to earnings, it's because they expect earnings will decrease.