Micron hits a $1 trillion market cap after UBS — and Trump — praise it

Micron Technology’s stock price jumped 19% on Tuesday, lifting the company’s market valuation to $1 trillion for the first time. The surge followed a highly optimistic UBS report, which raised its price target for Micron shares to $1,625 from $535, indicating a potential 90% increase over the next 12 months. The forecast cited surging demand for AI-driven memory chips and long-term industry agreements as key drivers. UBS also boosted its earnings expectations for Micron over the next three years, projecting over $400 billion in free cash flow from 2027 to 2029. The investment bank compared Micron’s growth potential to NVIDIA, suggesting its stock could command a similar valuation multiple. The rally extended beyond Micron, with Sandisk up 7%, Western Digital gaining 8%, and Seagate rising 4%, contributing to a broader Nasdaq increase. Micron’s stock has already climbed 213% year-to-date, reflecting strong investor confidence. The company gained additional attention after President Donald Trump praised Micron at a New York rally on Friday, stating, ‘Micron, boy Micron’s great, they’re investing hundreds of billions.’ His remarks reignited speculation that the U.S. government might acquire a stake in Micron, similar to its recent investment in Intel. Trump’s personal investment in Micron, disclosed in March, included shares worth $50,000 to $100,000. Analysts on Polymarket now assign a 34% probability that the government will take a stake in the company by year-end. The combination of UBS’s bullish outlook, Trump’s endorsement, and AI-driven demand has positioned Micron as a standout performer in the semiconductor sector.