On May 26, Direxion 2X Long MU ETF rose 10.04% overnight, trading at $577.00/share, with trading volume of approximately $12.59 million. As a 2x leveraged ETF tracking Micron Technology, the rally reflects amplified gains in the underlying stock.

The move was driven by Micron CEO Sanjay Mehrotra's comments at the JPMorgan Tech Summit and a subsequent media interview, warning that the global memory chip shortage may persist beyond 2026, with meaningful new capacity not expected to materialize until 2028. Mehrotra disclosed that Micron can currently satisfy only 50% to two-thirds of core customer demand, underscoring the severity of the supply-demand gap fueled by explosive AI-related memory consumption.

Micron has committed to a $200 billion investment spanning three U.S. states to raise domestic production from approximately 10% to 40% of global output. Structural bottlenecks including EUV ramp challenges, die size increases, and long construction cycles constrain near-term supply expansion. Additionally, HSBC recently raised its Micron target price from $750 to $1,100 while maintaining a Buy rating, reinforcing bullish sentiment across the memory sector.

(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.)