Micron shares surge on memory

Published May 27, 2026 by The Daily Scout

- Micron Technology shares jumped on May 26 after UBS raised its price target to $1,625, citing AI-driven memory demand and long-term supply agreements. - UBS lifted its target from $535 to $1,625, and CNBC reported Micron briefly crossed a $1 trillion market capitalization on Tuesday. - Micron said on May 22 its Manassas, Virginia, expansion will quadruple local DDR4 wafer supply for long-lifecycle customers.

Why it matters

Micron Technology shares surged on May 26 after UBS raised its price target on the memory-chip maker to $1,625 from $535, arguing that artificial-intelligence demand had changed how the company should be valued. Micron shares climbed to a record intraday high, and CNBC reported the stock briefly pushed the company above a $1 trillion market capitalization for the first time. The move put fresh attention on a part of the AI trade that sits below graphics processors but has become harder for data-center customers to ignore: memory. UBS said Micron’s position in high-bandwidth memory, or HBM, and its use of long-term agreements with partially fixed pricing supported a more aggressive valuation case. ### Why did Micron’s stock move so much in one session? (research.ibb.ubs.com) UBS on May 26 lifted its Micron price target to $1,625 from $535 while maintaining a buy rating, according to the bank’s public research history. Yahoo Finance, citing the UBS note, said the bank argued AI had “fundamentally altered” how Micron should be valued. CNBC reported Micron shares rose 19% at one point on Tuesday, while IBTimes Australia said the stock was up more than 13% in morning trading at $851.70. (cnbc.com) The different figures reflect moves at different points in the session, but both reports tied the rally to the UBS call and demand for AI memory. ### What does AI have to do with memory this time? (research.ibb.ubs.com) Micron is one of the suppliers of HBM, a type of memory used alongside AI accelerators, and the company said in March that it had begun volume shipment of HBM4 designed for Nvidia’s Vera Rubin platform. That product positioning has made Micron a direct beneficiary of spending on AI servers and related infrastructure. (cnbc.com) IBTimes Australia said UBS pointed to strong demand for AI-driven memory chips and strategic supply agreements. CNBC said the bank cited long-term agreement opportunities with partially fixed pricing, a structure that can give suppliers more visibility when demand is tight. ### Why are investors still focused on older memory like DDR4? (investors.micron.com) Micron said on May 22 that it had started manufacturing 1-alpha DRAM at its Manassas, Virginia, fab and that the node was suited to long-lifecycle DDR4 and LP4 products. The company said the expansion would quadruple DDR4 wafer supply at the site and was backed by more than $2 billion of investment. (ibtimes.com.au) That expansion has not ended concerns about supply. The Virginia announcement itself framed the added output as support for automotive, defense, aerospace, industrial, networking and medical-device customers, all markets that still use longer-life memory products. In other words, Micron is adding domestic capacity while still signaling that legacy memory remains strategically important. (investors.micron.com) ### Did Micron really cross $1 trillion in value? CNBC reported Micron topped a $1 trillion market value for the first time on Tuesday as the stock spiked. Bloomberg also described Micron as having moved past the $1 trillion mark on AI demand. Micron’s investor relations page showed the stock at $895.88 with a delayed quote when accessed on May 27. (investors.micron.com) The next formal company milestones are likely to come through Micron’s investor relations site and newsroom, where the company posts press releases and other updates on production and product shipments. (investors.micron.com) (cnbc.com)

Key numbers

Micron Technology shares jumped on May 26 after UBS raised its price target to $1,625, citing AI-driven memory demand and long-term supply agreements.
UBS lifted its target from $535 to $1,625, and CNBC reported Micron briefly crossed a $1 trillion market capitalization on Tuesday.
Micron said on May 22 its Manassas, Virginia, expansion will quadruple local DDR4 wafer supply for long-lifecycle customers.
Micron Technology shares surged on May 26 after UBS raised its price target on the memory-chip maker to $1,625 from $535, arguing that artificial-intelligence demand had changed how the company should be valued.

What happens next

Micron Technology shares surged on May 26 after UBS raised its price target on the memory-chip maker to $1,625 from $535, arguing that artificial-intelligence demand had changed how the company should be valued.
(research.ibb.ubs.com) UBS on May 26 lifted its Micron price target to $1,625 from $535 while maintaining a buy rating, according to the bank’s public research history.
(investors.micron.com) Micron said on May 22 that it had started manufacturing 1-alpha DRAM at its Manassas, Virginia, fab and that the node was suited to long-lifecycle DDR4 and LP4 products.

Sources

Quick answers

What happened in Micron shares surge on memory?

Micron Technology shares jumped on May 26 after UBS raised its price target to $1,625, citing AI-driven memory demand and long-term supply agreements. UBS lifted its target from $535 to $1,625, and CNBC reported Micron briefly crossed a $1 trillion market capitalization on Tuesday. Micron said on May 22 its Manassas, Virginia, expansion will quadruple local DDR4 wafer supply for long-lifecycle customers.

Why does Micron shares surge on memory matter?

Micron Technology shares surged on May 26 after UBS raised its price target on the memory-chip maker to $1,625 from $535, arguing that artificial-intelligence demand had changed how the company should be valued. Micron shares climbed to a record intraday high, and CNBC reported the stock briefly pushed the company above a $1 trillion market capitalization for the first time. The move put fresh attention on a part of the AI trade that sits below graphics processors but has become harder for data-center customers to ignore: memory. UBS said Micron’s position in high-bandwidth memory, or HBM, and its use of long-term agreements with partially fixed pricing supported a more aggressive valuation case. Why did Micron’s stock move so much in one session? (research.ibb.ubs.com) UBS on May 26 lifted its Micron price target to $1,625 from $535 while maintaining a buy rating, according to the bank’s public research history. Yahoo Finance, citing the UBS note, said the bank argued AI had “fundamentally altered” how Micron should be valued. CNBC reported Micron shares rose 19% at one point on Tuesday, while IBTimes Australia said the stock was up more than 13% in morning trading at $851.70. (cnbc.com) The different figures reflect moves at different points in the session, but both reports tied the rally to the UBS call and demand for AI memory. What does AI have to do with memory this time? (research.ibb.ubs.com) Micron is one of the suppliers of HBM, a type of memory used alongside AI accelerators, and the company said in March that it had begun volume shipment of HBM4 designed for Nvidia’s Vera Rubin platform. That product positioning has made Micron a direct beneficiary of spending on AI servers and related infrastructure. (cnbc.com) IBTimes Australia said UBS pointed to strong demand for AI-driven memory chips and strategic supply agreements. CNBC said the bank cited long-term agreement opportunities with partially fixed pricing, a structure that can give suppliers more visibility when demand is tight. Why are investors still focused on older memory like DDR4? (investors.micron.com) Micron said on May 22 that it had started manufacturing 1-alpha DRAM at its Manassas, Virginia, fab and that the node was suited to long-lifecycle DDR4 and LP4 products. The company said the expansion would quadruple DDR4 wafer supply at the site and was backed by more than $2 billion of investment. (ibtimes.com.au) That expansion has not ended concerns about supply. The Virginia announcement itself framed the added output as support for automotive, defense, aerospace, industrial, networking and medical-device customers, all markets that still use longer-life memory products. In other words, Micron is adding domestic capacity while still signaling that legacy memory remains strategically important. (investors.micron.com) Did Micron really cross $1 trillion in value? CNBC reported Micron topped a $1 trillion market value for the first time on Tuesday as the stock spiked. Bloomberg also described Micron as having moved past the $1 trillion mark on AI demand. Micron’s investor relations page showed the stock at $895.88 with a delayed quote when accessed on May 27. (investors.micron.com) The next formal company milestones are likely to come through Micron’s investor relations site and newsroom, where the company posts press releases and other updates on production and product shipments. (investors.micron.com) (cnbc.com)