Micron and SK Hynix reach $1 trillion valuation as AI demand boosts memory chip market
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@siliconrepublic.bsky.social
Slow-proofed and worth the wait. Worth its weight in flour.
Summary
Micron and SK Hynix have both surpassed $1 trillion in market valuation, joining Samsung in the trillion-dollar club amid surging demand for memory chips driven by AI. Micron's stock surged over 19% after UBS tripled its price target from $535 to $1,525 per share, citing long-term agreements with major customers and partially fixed pricing structures.
Key quotes
· 3 pulledMicron and SK Hynix have both surpassed $1trn in market value, as AI drives demand for the companies' memory chips.
Micron shares grew by more than 19pc yesterday (26 May) after investment bank UBS published a report that tripled its price target on the company's stock from $535 to $1,525 per share
Micron and SK Hynix join rival chipmaker Samsung in the $1trn club, after the latter hit the milestone valuation at the start of the month.
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