Micron and SK Hynix join rival chipmaker Samsung in the $1trn club, after the latter hit the milestone valuation at the start of the month.
Leading chipmakers Micron and SK Hynix have both surpassed $1trn in market value, as AI drives demand for the companies’ memory chips.
Micron shares grew by more than 19pc yesterday (26 May) after investment bank UBS published a report that tripled its price target on the company’s stock from $535 to $1,525 per share – with UBS citing long-term agreement opportunities with major customers and partially fixed pricing on those deals.
The valuation milestone comes after Micron hit a valuation of $700bn at the start of the month.
Meanwhile, South Korean chipmaker SK Hynix also reached a $1trn valuation after its shares rose by 12pc today (27 May).
