Micron's capitalization reaches $1 trillion for the first time: UBS triples target price for its shares
High-Bandwidth Memory (HBM) manufacturer's capitalization rose above $1 trillion due to strong demand for AI chips / Photo: JHVEPhoto / Shutterstock.com
Shares of Micron Technology, a manufacturer of memory chips for PCs, servers and AI-chips, jumped by 18% in Tuesday's trading, after which they slowed down a bit (at the time of publication they are adding just over 16%). Such dynamics of the chipmaker's securities demonstrated after UBS tripled its target price on the company's shares - from $535 to $1625 per paper, referring to the possibility of concluding long-term agreements with partially fixed prices.
Against this backdrop, Micron's capitalization reached $1 trillion for the first time, CNBC notes.
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