This chipmaker is one of the 'deepest value' stocks, says Credit Suisse

The headquarters building of Micron Technology Inc. stands in Boise, Idaho, U.S.
Matthew Staver | Bloomberg | Getty Images

Micron Technology is one of the cheapest stocks globally, according to Credit Suisse.

The bank used its proprietary valuation metric called "cash flow return on investment (CFROI)," and said Micron's valuation has been at all-time low for a few months, seeing a whopping 70 percent gain.