UBS analyst Timothy Arcuri set the Street-high target on the memory chipmaker, citing AI-driven demand for high-bandwidth memory that could push Micron's valuation toward $1.8 trillion.
Micron Technology just joined one of the most exclusive clubs in corporate America. The memory chipmaker’s shares surged as much as 19% on May 26 after UBS analyst Timothy Arcuri more than tripled his price target from $535 to $1,625, the highest among 46 analysts covering the stock.
That single-day move pushed Micron past the roughly $886.74 per share threshold needed to hit a $1 trillion market capitalization for the first time. If Arcuri’s target holds up, it implies a potential valuation of approximately $1.8 trillion within the next 12 months.
The AI memory trade gets its biggest endorsement yet #
The catalyst behind Arcuri’s aggressive call is Micron’s positioning in the high-bandwidth memory market. HBM chips are a critical component in the AI accelerators that power everything from large language models to autonomous vehicle systems.
Micron has also locked in multi-year supply agreements with customers, some of which include partially fixed pricing. That’s a structural shift for a company that historically lived and died by spot market memory prices.
From commodity chipmaker to top-tier tech giant #
Micron’s record close on May 26 marked its 28th record close of 2026. It was also the company’s best single-day performance since 2011. The stock’s trajectory has catapulted Micron to become the 11th-largest US public company by market capitalization, slotting in just behind Eli Lilly and ahead of Walmart.
If Micron reaches the $1,625 price target, it would enter the top seven US companies by market cap.
What this means for investors #
Micron is one of only three companies in the world, alongside Samsung and SK Hynix, capable of manufacturing HBM at scale. Samsung has been aggressively investing in next-generation HBM production, and SK Hynix currently holds a leading market share in HBM3E chips. Micron’s ability to maintain or grow its share of the HBM market against well-capitalized competitors will be a key variable to watch over the next several quarters.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our