Micron touches $1B valuation as UBS more than triples price target

Micron Technology Inc (NASDAQ:MU) shares briefly surpassed a $1 trillion market capitalization on Tuesday for the first time, following a sharp rally driven by a major bullish call from UBS, which more than tripled its price target on the memory chip maker. Shares of Micron were up 17% at $880 in afternoon trading, pushing the company's valuation above the trillion-dollar threshold intraday before easing back below the level later in the session.