Micron, SK Hynix Both Hit $1 Trillion Valuation

Micron Technology and SK Hynix each surpassed $1 trillion in market value for the first time on the same day, fueled by surging AI-driven demand for memory chips. Micron's stock jumped over 19% after UBS tripled its price target to $1,525, citing long-term customer agreements and structural AI-driven changes to the memory market. Micron's stock has risen 214% since January, while SK Hynix has gained roughly 250%. A global chip shortage has allowed both companies to raise prices and accelerate profits. Samsung crossed the $1 trillion mark weeks earlier, making all three major memory makers trillion-dollar companies.