Micron’s market value hit $1.398 trillion after strong forecasts, overtaking Meta and briefly Tesla amid AI-driven growth.
Micron Technology’s market capitalization reached $1.398 trillion, surpassing Meta Platforms’ $1.392 trillion and briefly eclipsing Tesla’s $1.4 trillion. Shares surged 18.4% to $1,236 following robust fourth-quarter revenue and profit forecasts, driven by $22 billion in customer commitments for memory chips.
The chipmaker joined the $1 trillion market cap club on May 26, alongside Samsung Electronics, as investors flock to companies benefiting from Big Tech’s AI infrastructure spending. Micron’s recent slump reversed after the forecast, highlighting strong demand for AI-related components.
The milestone reflects growing investor confidence in memory chipmakers as critical players in the AI supply chain, with Micron’s valuation briefly outpacing major tech peers.