By Jeremy Bowman
Publication Date: 2026-05-26 17:42:00
Micron (MU +19.67%) has been one of the biggest stories on the stock market, and it just hit a major milestone.
Shares of the memory chip superstar just topped the $1 trillion market cap threshold for the first time in its history, joining top chip stocks like Nvidia, Broadcom, Taiwan Semiconductor, and Samsung in the club.
An unusually aggressive price target hike from UBS was the catalyst for today’s pop, driving the stock up as much as 18.7% today as of noon ET, topping $1 trillion in market cap at one point.
Image source: Getty Images.
Why Micron was flying higher today
UBS lifted its price target from $535 to a street-high $1,625 on the memory chip stock, implying that shares would more than double from their closing price on Friday.
In the note, UBS observed that Micron should benefit from long-term memory supply agreements with buyers such as Nvidia that could lock in pricing and demand visibility through 2029. It expects that to drive significantly higher earnings and…