UBS raises Micron’s price target to $1,625 as memory chips become critical to AI infrastructure spending.
Micron Technology’s market capitalization exceeded $1 trillion for the first time, driven by surging demand for memory chips in artificial intelligence applications. Shares hit a record $886.6, up 18% after UBS lifted its price target to $1,625, the highest among analysts covering the stock.
The milestone highlights memory chips’ pivotal role in AI infrastructure, shifting investor focus beyond graphics processors. Micron’s rally, with shares up over eightfold in a year, reflects strong earnings and supply constraints that have bolstered pricing power.
Samsung Electronics has already reached the $1 trillion mark, while SK Hynix nears it, underscoring Asia’s dominance in the sector. Micron’s ascent strengthens the U.S. position in the global memory-chip race.