UBS sets a Street-high price target for Micron, implying $1.8 trillion market cap as AI demand reshapes memory-chip valuations.
Micron shares surged to a record intraday high after UBS raised its price target to $1,625, more than triple its prior $535 target. The new target suggests 115% upside from Micron’s Friday close of $751.00 and a potential $1.8 trillion market capitalization.
UBS argued that AI-driven demand has structurally altered the memory market, reducing cyclical volatility and improving earnings visibility. Historically, Micron traded as a boom-and-bust chip stock, but AI adoption is expected to smooth its revenue trajectory.
The stock jumped over 10% in early trading, marking its 30th intraday high this year. The PHLX Semiconductor Index also hit a record, reflecting broader sector strength.