Memory chipmakers SK Hynix and Micron surge past $1 trillion market cap amid AI-driven demand expectations through 2028.
SK Hynix and Micron Technology have both surpassed $1 trillion in market valuation, driven by a 21% surge in Micron shares and a 9.3% rise in SK Hynix. Micron’s valuation soared after a price target hike from UBS, while SK Hynix shares have climbed over 1,000% in the past year.
The rally reflects investor confidence in sustained chip shortages and pricing power for AI-related memory chips, with expectations extending into 2028. Samsung Electronics also recently crossed the $1 trillion mark, underscoring the sector’s momentum.
Meanwhile, Bitcoin (BTC) fell 1.5% to $75,800 as capital shifts toward AI stocks, leaving crypto markets in a bearish sentiment. The Nasdaq rose 0.9% in premarket trading, led by tech gains.