Micron Technology briefly outranked both Meta and Tesla by market capitalization Thursday, closing the week at roughly $1.27 trillion.
The chipmaker's stock hit $1,132 per share — a 236% gain in a single month — after what the source describes as blockbuster third-quarter earnings. The company spent years trading below $100 before mid-2025. The source cites quarterly revenue of $41.45 billion, which it says represents a fourfold year-over-year increase; that number sits well outside Micron's historical revenue range, and because a second source was not available at time of writing, this article declines to treat it as confirmed fact.
The broader signal is structural regardless of the exact revenue figure: memory chips have always been a commodity business prone to ugly boom-bust cycles, and a market cap that briefly eclipses Meta marks how completely the AI infrastructure buildout has revalued the semiconductor stack. If the earnings growth is anything close to what the source claims, Micron has crossed from cyclical supplier to critical infrastructure — a category Wall Street prices very differently.
A stock chart that travels from double digits to four digits in roughly a year tends to attract both true believers and short-sellers in equal measure, and this one will be no different.