This Artificial Intelligence (AI) Chip Stock Just Joined Nvidia, Broadcom, Taiwan Semiconductor, and Samsung in the $1 Trillion Club. Is It a Buy Now?

A UBS price-target boost sent shares of Micron (MU) sharply higher—up as much as 18.7% intraday—pushing the company briefly into the $1 trillion market-cap club alongside major chip names. UBS raised its target from $535 to $1,625, citing multi-year memory supply agreements with customers like Nvidia and durable, AI-driven demand that should support earnings and free cash flow through 2029. Micron’s recent quarter showed massive upside (revenue +196% to $23.9B; adjusted EPS $12.20 vs. $8.65 consensus), underpinning the rally. The note implies substantial further upside (UBS’s target equates to about a $1.8T market cap), but the article flags the sector’s cyclicality as a lingering risk. Overall market impact: a bullish analyst catalyst driving a large single-stock rally and lifting sentiment around AI-driven memory demand and valuation re-ratings across chip names.