Micron's Market Cap Surpasses $700 Billion Amid Memory Sector Rally
Micron Technology's stock surged 12% after announcing the shipment of its highest capacity solid-state drive, pushing its market cap above $700 billion. The rally is driven by a global memory shortage linked to the AI boom, impacting companies like Micron, SK Hynix, and Samsung. The memory sector, including Sandisk, has seen significant gains this year.
Topics: AI demand memory market product launch stock price movement