Some observations:
The 200-year average P/E ratio for S&P 500 companies is ~15 and is widely considered a rational valuation for companies.
Intel reaches a 15 P/E at 80 per share.
AMD is currently trading at a 43 P/E at 139 per share. AMD reaches a 15 P/E at 50 per share. If Intel were trading at a 43 P/E, its price would be 230 per share.
NVIDIA is currently trading at a 77 P/E. NVDA reaches a 15 P/E at 60 per share. If Intel were trading at a 77 P/E, its price would be 410 per share.

$AMD(AMD)$ $Intel(INTC)$ $NVIDIA Corp(NVDA)$