MU stock hit an all-time high on Tuesday, May 26, closing at $895.88 after surging 19.29% and crossing the $1 trillion market cap mark for the first time. The move came after UBS analyst Timothy Arcuri raised his Micron stock price target more than threefold, from $535 to $1,625 — the highest call of any of the 46 Wall Street firms covering the stock. After-hours trading pushed MU to $914.53, up another 2.08% at the time of writing. The Micron stock price in 2026 now stands at 184% year-to-date and over 830% in the past 12 months.
Source: Yahoo Finance
Also Read: Micron Turned $1,000 Into $500,000: Can It Happen Again?
Micron Stock All-Time High, UBS Target & 2026 Price Surge
The UBS Call That Changed Everything
The Micron all-time high stock price did not come out of nowhere. Arcuri, ranked among the top five semiconductor analysts on Wall Street by TipRanks, raised his MU target in a single note from $535 to $1,625. This is a 204% revision that also set a new Street-high. His thesis centers on long-term supply agreements that replace volatile spot market sales. He also mentioned RAM shortages he expects to last well into at least Q2 2028. Arcuri projects Micron will generate more than $100 per share in earnings each year from 2027 through 2029, which gives the Micron stock price target a lot of room to work with.
Ross Gerber had this to say on X:
“Holy chip stocks!!!! Micron starts the day up $100. We’ve been saying it’s too cheap for some time. UBS is confirming the $100 EPS of 2027 is very doable. That gives me a $1,500 target up from $1,000. 15 times 27 EPS for $MU.”
Cramer and Boloor React to The Trillion-Dollar Move
Jim Cramer, on CNBC’s Mad Money, put the Micron stock all-time high in a broader context right away:
“We’re on the verge of a new era, where I think the trillion-dollar club may be a heck of a lot easier to join. AI has changed the order of things. No wonder its market cap touched a trillion today.”
Futurum Group Chief Market Strategist Shay Boloor also weighed in on X:
“With only three major HBM suppliers in the world, the entire memory complex is getting re-rated.”
Why The Memory Shortage Is Driving Micron Stock Price in 2026
Micron is one of only three companies globally that can produce high-bandwidth memory, or HBM, at scale, alongside Samsung and SK Hynix. CEO Sanjay Mehrotra confirmed on the company’s most recent earnings call that Micron had already sold out its entire 2026 HBM supply. Revenue nearly tripled year-over-year to $23.86 billion in fiscal Q2 2026, and management guided for Q3 revenue of approximately $33.5 billion. This figure exceeds what Micron used to generate in a full fiscal year. The dividend also got a 30% raise. Thirty-nine of 44 analysts covering the stock currently rate it a Buy, and the Micron all-time high stock price is still seen as a starting point by many of them.
Source: MarketScreener
Right now, Micron ranks as the 10th most valuable company in the US, ahead of Walmart and Eli Lilly. At the UBS Micron stock price target of $1,625, the company would reach roughly $1.8 trillion in valuation, passing both Tesla and Meta. The Micron stock price in 2026 has, in a short span of time, rewritten what the market thought was possible for a memory chipmaker.