Micron Technology crossed the $1 trillion market cap threshold on May 26, making it the latest semiconductor company to join an increasingly crowded trillion-dollar club. The milestone came just 48 days after Micron hit $500B.
For context, Nvidia took 490 days to make the same $500B-to-$1T journey.
What happened
Micron shares surged approximately 18-19% on the day, closing in the range of $886 to $896 per share. The catalyst was a price target upgrade from UBS analyst Timothy Arcuri, who set a new target of $1,625.
The jump vaulted Micron to roughly the 11th-largest US public company by market value, putting the Boise, Idaho-based chipmaker in an elite group of about a dozen firms sporting trillion-dollar-plus valuations.
