No. of Recommendations: 4
Micron Technology Inc.’s market capitalization, which has soared about 840% over the past year, will more than double over the next 12 months, according to at least one analyst.
UBS Group AG on Tuesday boosted its price target for the Boise, Idaho-based chipmaker to a street high of $1,625, more than 116% above where it closed last week. The target is three times higher than UBS’s previous of $535 and implies a market value of roughly $1.8 trillion.
That would make it larger than the current market capitalization of companies like Meta Platforms Inc., Tesla Inc. and Berkshire Hathaway Inc.
Micron Technology’s shares rallied 19% on Tuesday, supported by both the UBS call and after a Huawei Technologies Co. official said the Chinese company had made a potential breakthrough on chip design, causing chip stocks to jump. The surge pushed Micron’s market value past $1 trillion for the first time.
bloomberg.com - Micron shares rally ubs projects trillion market valueMicron used to be a commodity memory chip maker subject to steep and brutal cycles. But it has been booming due to AI infrastructure demand.
