Micron Technology just joined one of the most exclusive clubs in corporate America. The memory chipmaker’s shares surged as much as 19% on May 26 after UBS analyst Timothy Arcuri more than tripled his price target from $535 to $1,625, the highest among 46 analysts covering the stock.
That single-day move pushed Micron past the roughly $886.74 per share threshold needed to hit a $1 trillion market capitalization for the first time. If Arcuri’s target holds up, it implies a potential valuation of approximately $1.8 trillion within the next 12 months.
The AI memory trade gets its biggest endorsement yet
The catalyst behind Arcuri’s aggressive call is Micron’s positioning in the high-bandwidth memory market. HBM chips are a critical component in the AI accelerators that power everything from large language models to autonomous vehicle systems.
Micron has also locked in multi-year supply agreements with customers, some of which include partially fixed pricing. That’s a structural shift for a company that historically lived and died by spot market memory prices.
