Micron joins elite group, crosses $1 trillion mark in market value

Micron Technology, Idaho’s largest company, entered rarefied air on Tuesday, crossing the $1 trillion valuation mark — and Wall Street analysts still see room to grow.

Driven by rabid demand for chips that power artificial intelligence, the Boise manufacturer’s stock jumped more than 28% Tuesday into Wednesday, topping out at $955 per share to open trading on May 27. The jump pushed Micron’s market capitalization — the total value of its publicly traded stock — over $1 trillion for the first time, making it just the 16th company in the world to reach that milestone.

As of Wednesday afternoon, Micron was the 13th most valuable company in the world by market capitalization, larger than such giants as Walmart, Eli Lilly and Berkshire Hathaway.

Micron’s rise has been meteoric. Founded in 1978, the company took 48 years to reach the $500 billion market capitalization threshold. It doubled that in 48 days. Since the start of the year, the company’s stock has essentially tripled. At close of market Wednesday, Micron was trading at $928.41 per share.

Wall Street analysts see yet more room to grow. The Swiss investment bank UBS on Tuesday set a new target price for Micron stock at $1,625 per share, more than tripling its April 7 valuation. (UBS disclosed that it maintains a stake in the company.)

Korean competitor SK Hynix followed Micron into the trillion-dollar echelon on Wednesday. Samsung, the world’s largest memory-chip maker and another trillion-dollar company, rounds out the three dominant companies in the memory-chip market.

As the United States’ biggest domestic producer of memory chips, Micron’s gains come as the company itself grapples with demand for its product. Micron’s 2026 run of high-bandwith memory chips — a type of dynamic random-access memory used in complex, high-speed computing — is already sold out for the year, the company has said.

Locally, Micron is focused on expanding that capacity — as well as its Boise footprint — on the south end of town. Huge sums of both public and private investment helped bring it into being. In 2025, the company and the federal government announced a $200 billion investment plan, with $30 billion of it earmarked to build a second chip fabrication plant in Boise.

Its initial $15 billion plant, which was announced on the heels of the federal Chips and Science Act in 2022, is expected to start production in 2027.

Had you bought $1,000 in Micron stock when that plant was announced on Sept. 1, 2022, you’d be sitting on close to $17,000 Wednesday morning.