On July 9, Direxion Daily Semiconductor Bull 3X ETF (SOXL) surged 13.33% in regular trading, trading at $201.33/share, with turnover of $2.802 billion. The rally comes as multiple bullish catalysts converge to reverse the prior week's sharp selloff.

Bank of America Securities issued a report stating that the recent semiconductor pullback represents a healthy market correction rather than weakening AI demand, reaffirming its Buy rating on Micron Technology. Separately, the Bank of Japan confirmed in its latest report that global AI demand expansion is driving increased chip equipment and chip orders, with enterprises maintaining strong capital expenditure plans. Additionally, Micron announced the launch of its Hiroshima factory expansion project with total investment of 1.5 trillion yen, targeting mass production of HBM and advanced memory products from 2028 to supply AI chip customers including NVIDIA, supported by up to 536 billion yen in Japanese government subsidies.

The Philadelphia Semiconductor Index had already rebounded 2.23% in the prior session after declining nearly 14% from its recent highs following Morgan Stanley's recommendation to reduce semiconductor exposure. As a 3x leveraged ETF tracking this index, SOXL's gains are amplified proportionally during recovery phases.

(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.)