Micron joins $1 trillion club as AI race powers memory chip boom
Micron Technology briefly topped $1 trillion in market value for the first time on Tuesday. Micron's shares were last up 17.4% at $881.6 after rising as much as 19.3% earlier in the session. UBS increased its price target on the stock to $1,625 from $535.
Art Hogan, chief market strategist at B. Riley Wealth, said "Today's crossing of the $1 trillion mark for Micron is just an exclamation point on the story of the massive amount of demand needed to run data centers in this AI revolution." Shares of Micron have jumped more than eightfold in the last 12 months. Micron has said its entire 2026 high-bandwidth memory (HBM) chip supply is already sold out. Its next-generation HBM4 products are now in production. About 2,440 institutions disclosed new positions in the company in the first quarter of the year, including Rockefeller Capital Management and Schroders.
Samsung's shares surged last week after it clinched an eleventh-hour deal with its South Korean union to avert a strike, though a union representing the conglomerate's consumer electronics workers said on Tuesday it has asked a South Korean court to block a vote on the agreement.
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Micron Technology briefly hit a $1 trillion market value, joining an exclusive club. This milestone highlights memory chips' crucial role in AI infrastructure - and a shift in investor focus.
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