Micron Technology surpasses $1 trillion market cap after shares double in 48 days, with major banks raising price targets significantly.
Micron Technology’s market capitalization reached $1.04 trillion, joining the exclusive $1 trillion club after its stock doubled in just 48 days. The chipmaker now ranks above Walmart, Eli Lilly, and Berkshire Hathaway in valuation, achieving the fastest ascent to this milestone in history.
Wall Street analysts have responded with aggressive price target hikes. Bank of America raised its target from $500 to $950, while UBS more than tripled its estimate from $535 to $1,625. Barclays increased its target by 74%, also suggesting Micron may no longer be a cyclical stock like traditional semiconductors.
The upgrades follow Micron’s first strategic customer agreement, signaling a potential shift in its market dynamics. Semiconductors have historically behaved like commodities, with supply and demand driving price cycles.