Overview
- Micron briefly crossed the $1 trillion mark after a UBS price‑target upgrade on May 26, 2026, and SK Hynix reached $1 trillion on May 27, 2026, joining Samsung which hit the milestone earlier in May.
- The rally is driven by high‑bandwidth memory, a specialized chip that sits next to AI accelerators and moves large data sets quickly, and only Micron, SK Hynix and Samsung can make HBM at scale.
- UBS’s tripling of its Micron target to $1,625 was cited as the key catalyst for Micron’s near‑20% one‑day surge and for wider investor re‑rating of memory names.
- SK Hynix reported blockbuster Q1 results with steep profit gains and introduced an iHBM thermal‑management solution that reduces thermal resistance by about 30%, underscoring product and packaging fixes firms are using to meet demand.
- Analysts warn supply will remain constrained through 2026, which has lifted prices, boosted index and ETF flows and produced large worker bonuses in South Korea, while the next inflection points to watch are capex ramps, competitor yield gains and any buyer pushback that could ease the current price environment.