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Micron hits $1T market cap

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Micron hit a $1 trillion market cap for the first time.

Shares were up 19%, driven by artificial intelligence demand for memory chips.

“We believe the market will start to put a more normal multiple on the stock and (Micron) will continue to re-rate higher as more details emerge about the structural changes AI has driven to the entire memory complex,” Micron officials said.

Read more from CNBC.

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