BOISE — Welcome to the trillion dollar club, Micron.

Boise-headquartered Micron Technology’s stock price closed the trading day Tuesday up 19.29 percent to $895.88 per share, giving the semiconductor company a $1 trillion market cap.

It marks a new high valuation for Micron and puts it in the ranks of the handful of trillion-dollar companies that includes Nvidia, Microsoft, Apple, Alphabet, Meta, Broadcom, Tesla, TSMC and Berkshire Hathaway.

Micron closed Friday at $751 per share. Its stock price jumped in pre-market trading to open Tuesday $820.50, buoyed by an announcement from UBS that the investment bank had raised its target price for Micron to $1,625 per share — a tripling of its previous target of $535 set in April.

“We believe the market will start to put a more ‘normal’ multiple on the stock and MU will continue to re-rate higher as more details emerge about the structural changes AI has driven to the entire memory complex,” UBS wrote in its analysis.

The AI data center race has generated strong demand for the memory chips and storage products Micron and only a handful of others make. The demand is so strong that the company announced in December 2025 its exit from the consumer memory business.

“The AI-driven growth in the data center has led to a surge in demand for memory and storage. Micron has made the difficult decision to exit the Crucial (brand) consumer business in order to improve supply and support for our larger, strategic customers in faster-growing segments,” the company said in a statement at the time.

Micron is the only memory manufacturer based in the United States.

Micron began in 1978 as a four-person semiconductor design company in the basement of a Boise dental office, according to a company timeline. Two years later, it broke ground on its first fabrication site in Boise.

In June 2025, the company announced a $200 billion investment to expand domestic memory manufacturing and research and development, estimating the creation of 90,000 jobs.

Micron’s plans include investing in two leading-edge, high-volume fabrication facilities in Idaho, which will create more than 17,000 new jobs, the company said.