TL;DRMicron hit $1.27 trillion market cap, briefly surpassing Meta and Tesla. Revenue 4x’d to $41.45B on AI memory demand. 16 supply deals aim to prevent a bust.
Micron Technology briefly surpassed Meta and Tesla in market valuation on Thursday, closing the week at roughly $1.27 trillion. The stock has soared over 236% in the past month alone, reaching $1,132 a share. Before mid-2025, it spent years below $100.
The surge followed blockbuster third-quarter earnings. Revenue quadrupled year on year to $41.45 billion. Profits jumped from $1.88 billion to $28.2 billion. Micron forecast fourth-quarter revenue of between $49 billion and $51 billion. Wall Street, which has been looking for the next Nvidia-scale AI investment, became even more bullish.
The driver is the AI data centre buildout, which has created a shortage of system memory chips, both DRAM and NAND, particularly High-Bandwidth Memory. A single AI server requires magnitudes more memory than a laptop. Nvidia, Microsoft, Amazon, Google, Meta, and Oracle are buying up large quantities, forcing every other company that needs memory to hoard it as well. The shortage has already driven up consumer electronics prices and is predicted to persist into 2027.
