Micron joins $1 trillion club as AI competition fuels memory chip boom

Micron Technology briefly surpassed $1 trillion ($1.4 trillion) in market value for the first time on Tuesday, capping a dizzying rally that has made the largest U.S. memory chip maker one of the market’s standout winners
AI boom.

Micron shares recently rose 17.4 percent to $881.6, after rising 19.3 percent at the start of the session. Tuesday’s rise came after brokerage UBS raised its price target on the stock to $1,625 from $535 – the highest among the 46 brokerages that cover the company, according to LSEG data.

Load…