COORDINATOR-ESTIMATED
Pre-open fair value report – 2026-11-11
Pre-open run on 2026-11-11 (Wednesday, Veterans Day: stock markets open, bond market closed). Prices are pre-market quotes from about 7:15 AM ET; calls use the pre-market price. The teammate bots were tasked this morning but had not delivered by report time, so all data, DCF and comps below are COORDINATOR-ESTIMATED from public sources.
Summary
| Ticker | Pre-mkt (close 11/10) | DCF bear / base / bull | Comps low / mid / high | Blended FV | Up/down | Margin of safety | Call |
|---|
CRM
Salesforce | $213.70
close $213.48 | $187.33 / $261.52 / $333.75 | $205.83 / $282.83 / $353.98 | $272.17 | +27.4% | +21.5% | Cheap |
NOW
ServiceNow | $100.55
close $99.61 | $79.78 / $119.44 / $157.35 | $59.94 / $71.19 / $97.22 | $95.31* | -5.2% | -5.5% | Fair |
ADBE
Adobe | $235.11
close $236.70 | $271.31 / $353.77 / $432.17 | $360.16 / $458.97 / $571.69 | $406.37 | +72.8% | +42.1% | Cheap |
AAPL
Apple | $346.25
close $348.51 | $118.99 / $152.74 / $185.78 | $172.51 / $202.13 / $347.25 | $177.43 | -48.8% | -95.1% | Rich |
NVDA
NVIDIA | $175.06
close $168.89 | $93.07 / $188.54 / $278.03 | $171.85 / $263.45 / $492.90 | $226.00* | +29.1% | +22.5% | Cheap |
AMD
Advanced Micro Devices | $548.70
close $515.21 | $46.33 / $86.78 / $124.02 | $180.09 / $242.74 / $359.00 | $164.76* | -70.0% | -233.0% | Rich low conf. |
SPCX
Space Exploration Technologies | $147.45
close $143.09 | not run | $42.75 / $74.50 / $128.30 | $74.50* | -49.5% | -97.9% | Rich low conf. |
GOOG
Alphabet | $287.30
close $284.92 | $168.24 / $254.53 / $334.54 | $243.67 / $280.48 / $363.20 | $267.51 | -6.9% | -7.4% | Fair |
AMZN
Amazon.com | $270.89
close $270.87 | $69.99 / $104.57 / $136.40 | $281.41 / $315.46 / $422.70 | $210.01* | -22.5% | -29.0% | Rich low conf. |
* Indicative only: DCF and comps disagree by more than 25%, or there is no DCF (SPCX is comps only). Ranges are $ per share.
Per-ticker notes
CRM Salesforce Cheap · FV $272.17 vs $213.70
- Forward P/E 14.6x and TTM EV/EBITDA 16.0x. Year-1 FCF is the FY Jan-2027 consensus of $15.0B, and the consensus 3-year revenue CAGR is 10.3%.
- The DCF base ($261.50) and comps median ($282.80) are within 8% of each other and both sit well above the price, which drives the Cheap call.
- WACC 9.89% (cost of equity 11.13%); DCF sensitivity range $212.93–$334.74
- ⚑ Earnings Wed Dec 2, 2026 after the close (in 21 days)
- ⚑ Net debt of about $31.0B
NOW ServiceNow Fair · FV $95.31 vs $100.55
- Forward P/E 21.9x and TTM EV/EBITDA 32.4x, both above the software peer medians, so the comps median ($71.20) is below the price.
- The DCF base ($119.40) is driven by the consensus 3-year revenue CAGR of 19.7% and FY1 FCF of $5.8B. The two methods straddle the price, so the blended value lands near it.
- WACC 9.49% (cost of equity 9.88%); DCF sensitivity range $98.39–$151.97
- ⚑ DCF vs comps disagree by 68% (>25%): blended value is indicative only, both shown
- ⚑ Last reported Oct 28, 2026; the next date is not yet posted on the source
ADBE Adobe Cheap · FV $406.37 vs $235.11
- Forward P/E 8.8x and TTM EV/EBITDA 9.4x, well below the software peers. Year-1 FCF is the FY Nov-2026 consensus of $10.4B, and the 3-year revenue CAGR is 9.5%.
- Both the DCF ($353.80) and comps ($459.00) sit far above the price. The market is pricing much lower growth or durability than consensus, so check for a thesis risk before relying on Cheap.
- WACC 11.39% (cost of equity 11.88%); DCF sensitivity range $304.70–$422.61
- ⚑ Earnings Dec 9, 2026 after the close (estimated, not yet confirmed; in 28 days)
AAPL Apple Rich · FV $177.43 vs $346.25
- Forward P/E 37.1x versus a mega-cap peer median near 20x. Year-1 FCF is the FY Sep-2027 consensus of $148.1B, and the 3-year revenue CAGR is 8.1%.
- The DCF ($152.70) and comps ($202.10) are both well below the price. The modest growth consensus does not support today's multiple under these assumptions.
- WACC 10.33% (cost of equity 10.43%); DCF sensitivity range $129.76–$186.55
- ⚑ DCF and comps differ by 24%, just under the 25% flag
- ⚑ The comps high ($347.20) is stretched by a wide forward P/FCF spread across few usable peers
- ⚑ Last reported Nov 2, 2026; the next date is not posted
NVDA NVIDIA Cheap · FV $226.00 vs $175.06
- Forward P/E 13.9x versus a semiconductor peer median in the mid-20s, so comps are high ($263.40 median).
- The DCF base ($188.50) is held down by a 2.25 beta, which gives a 16.1% WACC, even with FY Jan-2027 FCF of $189.9B and a 61% 3-year revenue CAGR. A lower beta would raise the DCF a lot.
- WACC 16.12% (cost of equity 16.23%); DCF sensitivity range $168.50–$213.60
- ⚑ DCF vs comps disagree by 28% (>25%): blended value is indicative only, both shown
- ⚑ EARNINGS SOON: Nov 17, 2026 after the close (in 6 days)
- ⚑ Pre-market +3.7% (rebound after a 5.5% drop Tuesday) as chip stocks rally on CoreWeave's raised 2026 revenue outlook
- ⚑ Governance overhang: the board has opened an independent investigation involving CEO Jensen Huang
- ⚑ High beta makes the DCF very sensitive to the discount rate
AMD Advanced Micro Devices Rich · FV $164.76 vs $548.70
- FY2026 consensus FCF is only $6.85B against a market cap near $900B, while consensus revenue is expected to grow very fast (3-year CAGR 57%).
- Because the DCF holds the FCF margin constant at today's low level, it likely understates value if margins expand. Comps ($242.70 median) are also far below the price (forward P/E 34.2x, EV/EBITDA 75x).
- WACC 17.54% (cost of equity 17.68%); DCF sensitivity range $78.71–$96.65
- ⚑ DCF vs comps disagree by 64% (>25%): blended value is indicative only, both shown
- ⚑ BIG PRE-MARKET MOVE: +6.5% to about $549 on the chip rally (CoreWeave outlook) and news that 6th-gen EPYC (Zen 6) servers are shipping
- ⚑ Low confidence: the starting FCF margin is depressed relative to the growth consensus
- ⚑ Last reported Nov 3, 2026; the next date is not posted
SPCX Space Exploration Technologies Rich · FV $74.50 vs $147.45
- Valued on comps only (no DCF). Forward P/E 47.4x and TTM EV/EBITDA 161x.
- The three peer groups disagree widely: aerospace/defense is lowest, satellite/comms highest and AI in between. The blend is an equal-weight average of the three, and the call uses a 30% band.
- Aerospace/defense peers: $32.11 / $34.30 / $43.65
- Satellite/comms peers: $43.46 / $126.47 / $231.59
- AI peers: $52.69 / $62.72 / $109.66
- ⚑ Could not be fully valued: DCF not run. FCF is negative (FY2026E about -$56.6B), there is no 5-year beta, and the public consensus is too short
- ⚑ Pre-market +3.0%
- ⚑ Limited trading history (2026 listing); data unverified against company filings beyond the public aggregator
- ⚑ Satellite/comms group has too few peers on some multiples; each group's range is shown
GOOG Alphabet Fair · FV $267.51 vs $287.30
- The DCF uses normalized FCF of $151.0B (operating cash flow minus D&A as a maintenance-capex proxy) because FY2026E reported FCF is -$18.4B from AI capex.
- Forward P/E 20.7x. The DCF ($254.50) and comps ($280.50) are within 10% of each other, which supports Fair.
- WACC 10.87% (cost of equity 11.13%); DCF sensitivity range $217.45–$307.78
- ⚑ DCF uses normalized FCF (a coordinator adjustment), so confidence is lower
- ⚑ Last reported Oct 28, 2026; the next date is not posted
AMZN Amazon.com Rich · FV $210.01 vs $270.89
- The DCF uses normalized FCF of $89.0B (operating cash flow minus D&A) because FY2026E reported FCF is -$38.9B from capex.
- Comps ($315.50 median, forward P/E 27.4x) sit above the price. The normalized DCF ($104.60) is far below it, so the Rich call rests mostly on the DCF.
- WACC 11.75% (cost of equity 12.48%); DCF sensitivity range $88.02–$127.50
- ⚑ DCF vs comps disagree by 67% (>25%): blended value is indicative only, both shown
- ⚑ Low confidence: the DCF rests on normalized FCF, and reported FCF is negative
- ⚑ Last reported Oct 29, 2026; the next date is not posted
Key assumptions
- 10-year Treasury 4.98% (US Treasury par yield curve, 11/10/2026, latest available); equity risk premium 5.0%; observed 5Y beta; cost of debt 10Y + 1.0% spread, 21% tax.
- DCF: 5-year FCF forecast (year 1 = FY1 consensus FCF; years 2-3 grow at consensus 3Y revenue CAGR, fading to terminal g by year 5) plus Gordon terminal value. Bear/base/bull use g of 2.0/2.5/3.0%, half/1.0x/1.25x growth and 90/100/110% of year-1 FCF. The sensitivity grid moves WACC by ±1% and g by ±0.5%.
- Comps: peer Q1 / median / Q3 of forward P/E, forward EV/Sales, EV/EBITDA (TTM; forward EBITDA consensus not on free sources) and forward P/FCF, then an equal-weight average of the usable multiples.
- Blended FV = 50% DCF base + 50% comps median. If they differ by more than 25% (|DCF − comps| / comps), the report flags it and shows both. Calls: Cheap if price ≤ 20% below FV, Rich if ≥ 15% above, else Fair. SPCX uses a ±30% band.
Sources
- stockanalysis.com /statistics and /forecast pages for every ticker and peer (S&P Global Market Intelligence data; statistics pages updated Nov 11, 2026, forecast pages updated Oct 30 to Nov 11, 2026); fetched 2026-11-11 05:23 MST
- Yahoo Finance chart API (query1.finance.yahoo.com/v8/finance/chart, includePrePost): Nov 10 closes and pre-market quotes as of about 7:12 to 7:23 AM ET, Nov 11
- U.S. Treasury Daily Par Yield Curve Rates, 11/10/2026: 10Y = 4.98% (latest available; no Nov 11 print because of the Veterans Day bond-market close)
- News: Investing.com via Yahoo Finance and Anadolu Agency (chip rally on CoreWeave guidance, NVDA board investigation), AD HOC NEWS (AMD EPYC shipping), all Nov 11, 2026
Not investment advice. This is an automated, model-driven analysis built only from public data. The numbers are estimates that depend on the assumptions above and can be wrong.