**Micron Technology** (MU) surged approximately 16% recently, reaching a market capitalization of $1 trillion. This marks a 200% increase year-to-date and an astonishing 800% rise over the past year, fueled by high demand for high bandwidth memory essential for AI infrastructure. Key to this surge was an upgrade from UBS analyst Timothy Arcuri, who raised the price target from $535 to $1,625, forecasting earnings per share (EPS) above $100 through 2029 and over $400 billion in cumulative free cash flow.
Micron’s fiscal Q1 2026 revenue hit $13.64 billion—up 57% year-over-year—with an EPS of $4.78, surpassing the $3.94 consensus. The company’s Cloud Memory Business Unit nearly doubled to $5.28 billion, indicating strong growth tied to ongoing supply-demand imbalances in DRAM and NAND memory. UBS predicts that these shortages will persist until at least Q2 2028 for DRAM and Q4 2027 for NAND.
In related developments, other industrial semiconductor stocks are also seeing gains. **Texas Instruments** (TXN) rose around 4%, reporting strong Q1 results, while **ON Semiconductor** (ON) surged 8% after exceeding earnings expectations. Furthermore, **Microchip Technology** (MCHP) reports a remarkable fiscal Q4 performance, beating consensus estimates and solidifying positive analyst sentiment.
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