Micron Technology stock tops $1,000, exceeds $1T on HBM demand
Business
Micron Technology just broke a big record: its stock soared past $1,000 for the first time ever and pushed the company's value over $1 trillion.
This jump is all about the huge demand for high-bandwidth memory (HBM), which powers AI data centers and puts Micron right at the heart of AI tech.
Analysts raise Micron targets, revenue surges
Analysts are feeling optimistic: Raymond James raised its price target to $1,100 and UBS went even higher at $1,625.
Micron's revenue has shot up from $13.6 billion two quarters ago to nearly $24 billion last quarter, with projections hitting $33.5 billion next quarter, all thanks to booming sales for AI-related memory products.