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The $1 trillion club used to be fairly exclusive.
As of the time of writing, 13 companies worldwide have breached the $1 trillion market value threshold.
Yet, there's one right on the doorstep of being admitted:Micron Technology(NASDAQ: MU).
It's about a $900 billion company right now, so it only needs a bit more than a 10% move to join the $1 trillion club.
However, Micron's stock has been so hot in the past few weeks that this move could happen in a matter of days.
Will AI create the world's first trillionaire?Our team just released a report on a little-known company, called an "Indispensable Monopoly," providing the critical technology Nvidia and Intel both need.Continue » Micron has been an incredible investment story, but is it still worth buying after its amazing rally? Let's take a look.
Micronmakes memory chips, which have been in short supply recently.
Memory is an important part of any computer, whether it's your PC, smartphone, or an artificial intelligence (AI) data center.
AI has been a huge consumer of memory, and it's reached the point where there is a global shortage of memory chips.
There isn't a ton that separates one memory chip manufacturer from another, so the market is fairly commoditized.
As a result, when demand is high and supply is low, the price goes higher.
That's exactly what we're seeing right now with every memory chip manufacturer, and each is pricing off of sky-high memory prices.
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