Micron Technology reached a $1 trillion valuation in 48 days, the fastest U.S. company to hit the milestone amid a chip supply shortage.
Micron Technology became the 12th U.S. company to reach a $1 trillion market capitalization, achieving the milestone in just 48 days after crossing $500 billion. The surge was driven by an unprecedented memory chip supply shortage, outpacing Tesla’s prior record of 230 days and Nvidia’s 500 days.
Samsung and SK Hynix also doubled from $500 billion to $1 trillion in 82 and 61 days, respectively. Despite the rapid ascent, Wall Street analysts project a 15% downside, with a median target price of $840 per share versus the current $990.
Micron has beaten earnings forecasts in the past six quarters, suggesting analysts may underestimate its performance. The company’s memory chips play a critical role in AI infrastructure, supporting CPUs and GPUs in accelerating workloads.