Micron stock jumps after company tops $1 trillion in market cap

Micron stock jumps after company tops $1 trillion in market cap Jared Blikre Updated Wed, May 27, 2026 at 3:37 PM GMT+2 2 min read MU UBSG. SW WMT LLY Micron ( MU ) stock popped another 3% on Wednesday following the company’s best day since 2011, closing on Tuesday at a record high — its 28th of the year. The catalyst on Tuesday was that UBS more than tripled its price target on the memory chipmaker to a Street high of $1,625, arguing that the AI boom has structurally changed the market for memory.

The new target is up from $535 and implies roughly 115% upside from Micron’s Friday close of $751. UBS analyst Timothy Arcuri wrote that the market should start putting a more “normal” multiple on Micron as investors get more evidence of the changes AI has driven across the memory complex. On Tuesday, the stock surged past the $886.

74 level that valued Micron at $1 trillion, making it the 11th-largest US public company by market value , behind Eli Lilly ( LLY ) and ahead of Walmart ( WMT ). On Wednesday, shares were trading above $920. In his note, UBS’s Arcuri was not just raising numbers.

He was also arguing that AI has changed the way investors should value the company. Micron has historically traded like a cyclical memory stock, with investors worried about boom-and-bust pricing in DRAM and NAND. The UBS analyst argued that AI demand is changing that setup by giving Micron more visibility into demand and a smoother earnings path.

The target’s size also changes the frame around the stock. A $1,625 price would imply a market cap of roughly $1. 8 trillion, according to Bloomberg, which would make Micron the seventh-biggest US company — behind Nvidia ( NVDA ), Alphabet ( GOOG , GOOGL ), Apple ( AAPL ), Microsoft ( MSFT ), Amazon ( AMZN ), and Broadcom ( AVGO ), and ahead of Tesla ( TSLA ), Meta ( META ), and Berkshire Hathaway ( BRK-A , BRK-B ).

Micron’s move was echoed in the broader chip trade. Semiconductor stocks heat map for May 26, 2026. Marvell Technology ( MRVL ), ON Semiconductor ( ON ), Advanced Micro Devices ( AMD ), Lam Research ( LRCX ), Intel ( INTC ), and Qualcomm ( QCOM ) were among the chip names gaining ground.

Marvell also entered the week with 10 straight weekly gains, while both Micron and the Philadelphia Semiconductor Index ( ^SOX ) have climbed in seven of the past eight weeks. Micron bulls will want to hold the $800 price level near the old highs or risk a false break to the upside. The biggest near-term support below that is around the $665 level.

Micron Technology CEO Sanjay Mehrotra holds a chip on the floor at the New York Stock Exchange in New York City on April 26, 2024. (Reuters/Brendan McDermid/File Photo) Jared Blikre is the global markets and data editor for Yahoo Finance. Follow him on X at @SPYJared or email him at jaredblikre@yahooinc.

com .