Micron Technology's Stock Surges Past $700 Billion Market Cap
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 19 hours ago
0mins
Should l Buy NVDA?
Source: CNBC
- Stock Surge: Micron Technology's shares surged 11% on Tuesday, pushing its market cap past $700 billion for the first time, with a 124% increase this year and nearly 700% over the past 12 months, making it one of the top ten tech companies in the U.S.
- Surging Memory Demand: The rapid growth of artificial intelligence has led to a surge in memory demand, resulting in a global shortage, with chipmakers like Nvidia and AMD significantly increasing their memory requirements, further boosting Micron's market performance.
- New Product Launch: Micron announced the start of shipments for its largest commercially available solid-state drive, which allows for greater memory storage with lower power demands compared to traditional hard drives, providing data center operators with a new lever for cost control.
- Supply Chain Challenges: Despite strong demand, Micron's CEO noted that key customers are only receiving 50% to two-thirds of their requirements, highlighting the supply constraints faced by memory manufacturers amid the AI boom.
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Analyst Views on NVDA
Wall Street analysts forecast NVDA stock price to rise
41 Analyst Rating
39 Buy
1 Hold
1 Sell
Strong Buy
Current: 196.500
Low
200.00
Averages
264.97
High
352.00
Current: 196.500
Low
200.00
Averages
264.97
High
352.00
About NVDA
NVIDIA Corporation is an artificial intelligence (AI) infrastructure company. The Company is engaged in accelerated computing to help solve the challenging computational problems. Its segments include Compute & Networking and Graphics. The Compute & Networking segment includes its Data Center accelerated computing and networking platforms and AI solutions and software, and automotive platforms and autonomous and electric vehicle solutions, including software. The Graphics segment includes GeForce GPUs for gaming and personal computers (PCs), and Quadro/NVIDIA RTX GPUs for enterprise workstation graphics. Its technology stack includes the foundational NVIDIA CUDA development platform that runs on all NVIDIA GPUs, as well as hundreds of domain-specific software libraries, frameworks, algorithms, software development kits (SDKs), and application programming interfaces (APIs). Its platforms address four markets, which include Data Center, Gaming, Professional Visualization, and Automotive.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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