Micron Just Became America's 10th-Most-Valuable Company. Wall Street Says It Could Pass Tesla and Meta Next.

Micron Technology (NASDAQ: MU) crossed a milestone on Tuesday that few would have predicted a year ago: a market value north of $1 trillion. Shares of the memory chipmaker jumped about 19% to a record high, lifting the company into 10th place among America's most valuable businesses -- ahead of even Walmart and Eli Lilly. The spark for the stock's big gain on Tuesday was a bold call from UBS, which tripled its price target on the stock to $1,625. At that level, Micron would be worth roughly $1.8 trillion -- enough to climb past electric-vehicle maker Tesla and Facebook parent Meta Platforms, each worth somewhere around $1.6 trillion as of this writing.Behind the optimism is a simple idea: artificial intelligence (AI) may have permanently changed Micron's business. For most of its history, the company traded like a classic boom-and-bust commodity producer, with memory prices swinging wildly between shortage and glut. The argument now is that AI demand has rewired those dynamics. Whether that's true -- and whether it justifies leapfrogging two of the market's biggest names -- is worth digging into.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool