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00:03Micron topped a $1 trillion market value for the first time on Tuesday as shares surged 19%,
00:09driven by AI demand for its memory chips, according to CNBC. UBS tripled its price
00:16target on the stock from $535 to $1,625 a share, citing long-term agreement opportunities with
00:23partially fixed pricing. UBS said the market will begin applying a more normal multiple to the
00:29stock, and that Micron will continue to re-rate higher as more details emerge about structural
00:34changes AI has driven to the memory complex. The new price target implies shares could more than
00:40double from Friday's close, while Micron's stock has more than tripled year-to-date. Qualcomm,
00:46advanced micro-devices, and Marvel technology have also reached new highs.
00:50For all things money, visit Benzinga.com.
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