#美光市值超越Meta跻身全美前十 Micron's Market Cap Surpasses Meta: Storage Chips Are Rewriting the Tech Power Map

On June 25, 2026, the global semiconductor industry witnessed a historic moment—Micron Technology surged over 18% in early trading, its market cap exceeding $1.4 trillion, surpassing Meta and Tesla for the first time, officially entering the top 10 of the U.S. stock market by market cap. By the close of that day, Micron's gains narrowed to 15.74%, with its market cap settling at $1.37 trillion, a very slim gap from Meta. But the all-time high reached during intraday trading was enough to declare a new era: storage chips are evolving from cyclical components into core AI strategic resources.

Triggering this market cap leap was a financial report that reshaped industry understanding. Micron's third fiscal quarter of fiscal year 2026 saw revenue of $41.46 billion, a year-over-year surge of 346%, and GAAP net profit of $28.24 billion, a year-over-year increase of over 13 times. Even more stunning was the gross margin—soaring from 37.7% a year ago to 84.9%, overtaking Nvidia's approximate 75% gross margin level. The company also issued highly optimistic guidance: forecasted fourth-quarter revenue of $50 billion, potentially breaking the single-quarter revenue record for the global semiconductor industry.

Behind the explosive growth in performance is the evolution of AI computing demand from a "GPU shortage" to a "memory shortage." High-bandwidth memory (HBM) has become a necessity for AI training and inference. Micron's entire HBM capacity for 2026 is already sold out. The company's CEO further stated that supply tightness will persist beyond 2027, with gradual relief possible only by 2028 at the earliest. Severe supply-demand imbalance has driven sustained price increases, transforming storage chips from cyclical commodities into "strategic assets" of the digital economy.

To break free from the traditional strong cyclical constraints of the storage industry, Micron has innovatively introduced a "strategic customer agreement" model—it has signed 16 five-year take-or-pay contracts, covering over half of the company's revenue, with guaranteed revenue alone reaching $100 billion. This model has significantly improved Micron's earnings visibility and stability, completely restructuring its valuation logic.

Micron's entry into the top 10 of U.S. stocks marks that the top 10 are now fully occupied by tech and AI-related companies. Micron, whose stock price was below $100 a year ago, is now a member of the trillion-dollar club. This is not just a company's comeback, but a microcosm of AI reshaping the power map of global capital markets—when storage chips become a core piece of AI infrastructure, the valuation coordinate system of the entire industry has been permanently rewritten.