Micron Technology's market cap closed above $1 trillion for the first time after a massive UBS upgrade and surging AI demand for high-bandwidth memory chips.

AI's memory chip boom just minted another trillion-dollar company.

UBS analyst Timothy Arcuri triples Micron's price target to $1,625 from $535, citing AI-driven demand for high-bandwidth memory and projected EPS above $100 through 2029.