Micron Technology (NASDAQ: MU) has crossed the $1 trillion market capitalization threshold for the first time, driven by surging investor demand tied to the AI infrastructure buildout.
Shares climbed as much as 6.7% on Wednesday after jumping 19% the previous session, extending a rally of more than 186% from the March 30 trough.
The memory-chip maker doubled its market capitalization from $500 billion to $1 trillion in just 48 trading days, the fastest such move on record.
That pace beat Samsung Electronics’ recent 82-day run and Tesla’s 230-day move from 2021, underscoring just how aggressive the buying in Micron has been.
SK Hynix also crossed the $1 trillion level in South Korea on Wednesday, reaching that milestone 61 days after hitting $500 billion in February.
Companies pledging hundreds of billions of dollars toward AI capital expenditures have placed memory components in high demand, potentially weakening the sector’s long-running pattern of cyclical profits.
Micron’s shares have gained nearly 850% over the past 12 months, trailing only SK Hynix, which has risen more than 1,000% over the same period.
By comparison, the Nasdaq 100 Index (NASDAQ: QQQ) is up approximately 40%, while the Philadelphia Semiconductor Index has climbed 161% over the same stretch.
The rally is also being underpinned by strengthening fundamentals, with Micron’s earnings growth accelerating in recent quarters as the AI trade continues to favor memory-related semiconductors.
Analysts are expecting approximately $105 in adjusted earnings per share for Micron by the end of fiscal 2027, representing more than 1,200% above the $8.07 reported for fiscal 2025.
