Micron Technology Inc.’s incredible rally this year has launched the memory-chip firm into an elite group of stocks worth at least $1 trillion, setting at least one record along the way.
The stock pushed to another all-time high on Wednesday, gaining as much as 6.7%, adding to its 19% surge from a day prior that catapulted it above the trillion dollar threshold for the first time. The meteoric rise, which includes a gain of more than 186% from its March 30 trough, comes as investors pile into stocks that stand to benefit from soaring demand for memory-related semiconductors, a crucial element for building artificial intelligence infrastructure.
