Micron Shares Surge 18% Intraday, Market Cap Hits $1 Trillion Milestone

Central News Agency, New York, May 26. As the AI boom drives demand for memory chips, shares of Micron Technology, the largest US memory chip manufacturer, surged 18% intraday today, pushing its market capitalization to $1 trillion (approximately NT$31.44 trillion) for the first time. According to Reuters and CNBC, the rally was fueled by UBS significantly raising its price target from $535 to $1625, the highest among 46 brokerages tracking the stock. This target is more than double Micron's closing price on the 22nd. This milestone underscores the critical role of memory chips in AI infrastructure and reflects a broader shift in AI trading, where investors are moving from GPU makers to other companies poised to benefit from massive tech investments. Art Hogan, chief market strategist at B. Riley Wealth Management, stated, 'The demand for pure memory has surged in a very short time, and Micron is clearly at the center of this trend. Micron crossing the $1 trillion mark adds another exclamation point to the theme of surging data center demand under the AI revolution.'