Micron Technology Soars Past $1 Trillion Market Cap Amid AI Chip Boom
Shares of Micron Technology jumped 19% on May 26, pushing the company past $1 trillion in market capitalization for the first time. The surge was driven by analyst bullishness, with UBS predicting over 100% upside ahead for the chip maker.
Stock Rally Breaks Records
Shares of Micron Technology jumped 19% and topped $1 trillion in market capitalization amid bullishness among analysts on the Street. Shares of Micron Technology jumped 19% and topped $1 trillion in market capitalization amid bullishness among analysts on the Street, with UBS in particular seeing more than 100% upside ahead for the stock, citing benefits from its long-term agreements.
Broader Market Performance
The S&P 500 and Nasdaq Composite rose to fresh intraday all-time highs on Tuesday, led by technology, as traders weighed the prospects of a potential U.S.-Iran deal being reached to end the war, with the broad market index gaining 0.61% and ending at 7,519.12, while the tech-heavy Nasdaq gained 1.19% to 26,656.18. Both indexes also closed at records, while the Dow Jones Industrial Average lost 118.02 points, or 0.23%, ending at 50,461.68.
Micron's Impressive Run
Micron shares have soared more than 200% in 2026 and more than 800% over the last 12 months. The semiconductor company's performance reflects investor confidence in the AI chip sector as demand continues to surge globally.
Global Market Activity
South Korea's Kospi closed 2.55% higher on Tuesday to hit 8,047.51, after rising to a record high of 8,131.15 in intraday trade, while the small-cap Kosdaq pared gains, ending 0.98% higher. Markets across the Asia-Pacific region responded positively to the optimistic sentiment surrounding semiconductor stocks and potential peace developments in the Middle East.