On June 17, GraniteShares 2x Long MU ETF (MULL) rose 8.04% in regular trading, trading at $832.00/share, with turnover of $137 million. The leveraged ETF amplified gains in its underlying stock Micron Technology, which rallied as multiple Wall Street banks issued aggressive target price upgrades.

TD Cowen raised its Micron target from $660 to $1,500, maintaining a buy rating, citing AI-driven structural demand that has permanently elevated the memory chip earnings ceiling. Deutsche Bank simultaneously lifted its target to $1,500, projecting storage supply-demand imbalances will persist through 2028. RBC Capital Markets raised its target to $1,200, noting the DRAM upcycle has extended to its 12th consecutive quarter with pricing on track to climb 50% year-over-year in Q2. Aletheia Capital set the most bullish target at $1,600, forecasting AI memory value share will exceed 70% of hardware systems by 2027.

The broader storage sector rallied in tandem, with Western Digital gaining over 6% and Seagate advancing more than 4%, supported by tightening supply conditions and robust AI infrastructure spending.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)