Micron Technology Joins $1T Club, Shares Jump 5% After UBS $1,625 Target
MU•Micron Technology’s shares surged 5% in premarket trading after the company joined the $1 trillion market capitalization club and received a price target boost from UBS to $1,625 from $535. Industry peer SK Hynix also reached a $1 trillion valuation as UBS argued that AI demand remains underhyped.
1. Market Cap Milestone
Micron Technology crossed the $1 trillion market capitalization threshold following a 5% rise in premarket trading, marking a key valuation milestone driven by robust demand for memory chips in AI infrastructure.
2. UBS Price Target Increase
UBS elevated its price target on Micron shares from $535 to $1,625, citing stronger-than-expected earnings potential and anticipated acceleration of AI-related chipset orders over the next two years.
3. Industry Valuation Trends
SK Hynix also surpassed a $1 trillion valuation, underscoring a broader memory-chip rally as banks and analysts uniformly upgrade forecasts amid projections that AI deployment remains underhyped.
