Micron Technology crossed the $1 trillion market cap threshold on May 26, closing at roughly $891 per share after a staggering 19% single-day surge.
The catalyst was a UBS upgrade that nearly tripled the firm’s price target for Micron, from $535 to $1,625, now the highest on Wall Street. The reasoning was straightforward: high-bandwidth memory chips, the kind Micron makes, have become the bottleneck in the AI infrastructure buildout. And right now, Micron can’t make them fast enough.
Why memory chips are suddenly the main character
Micron’s HBM capacity is fully sold out through the end of 2026, according to the UBS analysis. The company’s most recent quarterly HBM revenues came in at approximately $2 billion, a figure that would have been nearly unthinkable for a single memory product line just a few years ago.
The trillion-dollar milestone makes Micron only the second memory chipmaker to reach that valuation, joining Samsung.
