This Artificial Intelligence (AI) Chip Stock Just Joined Nvidia, Broadcom, Taiwan Semiconductor, and Samsung in the $1 Trillion Club. Is It a Buy Now?
Publish Date: 2026-05-26 14:03:00
Source Domain: www.theglobeandmail.com
- Micron (NASDAQ: MU) shares reached a major milestone by topping the $1 trillion market cap for the first time, joining top chip stocks like Nvidia and Broadcom.
- An unusually aggressive price target hike from UBS, lifting its price target from $535 to $1,625, acted as a catalyst, driving the stock up as much as 18.7% on its day of reporting.
- Memory stocks have skyrocketed due to an epic shortage driven by the AI boom, causing prices to spike and leading to soaring profits for Micron and its peers.
- Micron’s revenue nearly tripled to $23.9 billion last quarter, with an operating margin expanding from 22% to 67.6%, and a 10x increase in net income to $13.8 billion.
- The company’s strong financial performance suggests significant room for future growth, especially with long-term memory supply agreements with clients like Nvidia and the AI-driven improvements in the memory market.
