Micron (MU) Stock Rockets 10% Higher, Smashing Through $700B Valuation Barrier
Micron Technology's stock surged 10% to $635, pushing its market capitalization beyond $700 billion for the first time. The company's shares have climbed 125% in 2026, driven by analyst upgrades and growing demand for AI-related memory technologies.
Micron Technology's valuation surpassed $700 billion on Tuesday as its shares rose approximately 10% to $635. The semiconductor manufacturer's market capitalization has increased by $132.8 billion in just three trading days and by $395 billion in 2026, representing a 125% surge. DA Davidson initiated coverage with a Buy recommendation and a $1,000 price objective, citing growing demand for high-bandwidth memory, DRAM, and NAND technologies driven by AI. Chief Executive Sanjay Mehrotra stated that Micron can currently satisfy only 50% to 66% of critical client orders. The company unveiled a new 245TB SSD designed for AI and cloud infrastructure, claiming it reduces rack demands by 82% compared to traditional HDD configurations. Other memory stocks, such as Western Digital and Seagate, have also seen significant gains, with year-to-date increases of 176% and 185%, respectively.
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