Micron briefly surpassed Meta and Tesla in market value. Its stock is up 236% in a month.
TL;DR
Micron hit $1.27 trillion market cap, briefly surpassing Meta and Tesla. Revenue 4x’d to $41.45B on AI memory demand. 16 supply deals aim to prevent a bust.
Micron Technology briefly surpassed Meta and Tesla in market valuation on Thursday, closing the week at roughly $1.27 trillion. The stock has soared over 236% in the past month alone, reaching $1,132 a share. Before mid-2025, it spent years below $100.
The surge followed blockbuster third-quarter earnings. Revenue quadrupled year on year to $41.45 billion. Profits jumped from $1.88 billion to $28.2 billion. Micron forecast fourth-quarter revenue of between $49 billion and $51 billion. Wall Street, which has been looking for the next Nvidia-scale AI investment, became even more bullish.
The driver is the AI data centre buildout, which has created a shortage of system memory chips, both DRAM and NAND, particularly High-Bandwidth Memory. A single AI server requires magnitudes more...
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