Business & Economy · 46 views
Micron closes in on $1 trillion market value as UBS triples share price target
May 26 (Reuters) - Shares of Micron Technology climbed about 14.2% in early trading on Tuesday after brokerage UBS sharply raised its target price for the stock citing stronger AI demand and long-term supply deals, taking the chipmaker…
Summary
Shares of Micron Technology climbed about 14.2% in early trading on Tuesday after brokerage UBS sharply raised its target price for the stock citing stronger AI demand and long-term supply deals, taking the chipmaker closer to $1 trillion in market value. The revised target - the highest among the 46 brokerages covering the stock - implies a potential valuation of close to $1.8 trillion for the company by the next twelve months, compared with a market capitalization of $846.93 billion as of close on Friday.
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