Micron surpassed a $1 trillion market value for the first time on Tuesday as shares surged 18%, fueled by demand for its memory chips.
The company is part of a new wave of chipmakers poised to benefit from the next phase of the AI race.
The new price target indicates shares could more than double from Friday’s closing price.
The surge comes less than a week after Micron launched “Made-in-America Memory,” an expansion of its manufacturing efforts in Virginia.
Micron Chairman, President and CEO Sanjay Mehrotra and other executives will host the event, with remarks delivered by U.S. Secretary of Commerce Howard Lutnick, U.S. Trade Representative Ambassador Jamieson Greer, U.S. Sen. Mark Warner, U.S. Sen. Tim Kaine
Just a few weeks ago, Micron exceeded a $700 million market valuation.
By CEO NA Editorial Staff
