PEG ratio doesn't mean anything anymore?

Stocks trading under 0.5 PEG:

$MU 0.16
$SKHY 0.23
$NVDA 0.25
$AVGO 0.32
$NBIS 0.34
$STX 0.37
$BE 0.38
$NU 0.38
$DELL 0.43
$MRVL 0.48
$APP 0.50
$AMD 0.50

Under 1 is "cheap for its growth."
Under 0.5 means the market doesn't believe the growth.