Micron (MU) Hits Record High as UBS Raises Target to $1,625, Sees $1.8 Trillion Market Cap

Micron Technology (MU) shares surged nearly 20% on Tuesday, May 26, 2026, reaching a record intraday high and pushing its market capitalization above $1 trillion for the first time. The move marked the 30th time this year the stock has hit an all-time high. UBS raised its price target to $1,625, more than doubling its previous estimate and implying a potential market value of about $1.8 trillion. UBS analyst Timothy Arcuri believes AI demand is reducing the historical volatility in DRAM and NAND chip prices, making Micron’s earnings trajectory more predictable and justifying a higher valuation multiple. At the new target, Micron would become the seventh-largest U.S. listed company, surpassing Tesla, Meta, and Berkshire Hathaway. The stock, up 210% this year, is testing a key $800 resistance, with technical support near $665.