Why Wall Street thinks US memory maker Micron is the next Nvidia
Key takeaways
- Whether the love affair endures will heavily depend on how long the AI-driven supply crunch for memory chips lasts.
- Micron promises that it has shored up its position for the long term, which would allow it to withstand a sudden drop in demand or overcapacity of supply.
- Specifically Micron closed Friday's trading with a market cap close to $1.27 trillion, while Meta was at $1.39 trillion and Tesla was at $1.42 trillion.
Why Wall Street thinks US memory maker Micron is the next Nvidia BEIJING, CHINA - JULY 20, 2025 - Modules with packaged memory chips displayed at Micron's booth at the 3rd China International Supply Chain Expo in Beijing, China on July 20, 2025. (Photo credit should read CFOTO/Future Publishing via Getty Images) | Image Credits:CFOTO/Future Publishing via Getty Images / Getty Images Kirsten Korosec Sun, June 28, 2026 at 10:00 PM GMT+7 4 min read MU META TSLA NVDA Micron, the Boise, Idaho-based memory chip maker, has captured Wall Street's heart. Whether the love affair endures will heavily depend on how long the AI-driven supply crunch for memory chips lasts.
Micron promises that it has shored up its position for the long term, which would allow it to withstand a sudden drop in demand or overcapacity of supply. And Wall Street has become a believer, helping Micron briefly surpass the market valuation of Meta and Tesla for the first time on Thursday, though it floated back down by Friday to nearly match them.
Specifically Micron closed Friday's trading with a market cap close to $1.27 trillion, while Meta was at $1.39 trillion and Tesla was at $1.42 trillion. Micron's stock has soared over 236% in the past month alone, closing Friday at $1,132 a share. In comparison, it spent years upon years before mid-2025 at below $100 a share.