Microsoft is trading at its lowest price to earnings multiple since April 25, 2023. It’s still not time to buy.

Collectively, Wall Street analysts have issued more than 12,000 individual ratings on stocks in the S&P 500. By aggregating the median fair value estimates on every company, FactSet Research builds what is known as a "bottom-up" target price for the entire index.

An exchange-traded fund that holds Big Tech stocks was falling sharply on Tuesday morning, as Tesla Inc. posted the biggest losses in its portfolio, according to FactSet data, at last check. The Roundhill Magnificent Seven ETF was down 1.