Direxion Daily MU Bull 2X Shares (MUU), a leveraged ETF tracking Micron Technology, surged 6.89% during the night session, reflecting amplified gains in the underlying semiconductor stock.

The rally is supported by a bullish outlook for memory chip prices. According to industry analyst TrendForce, server DRAM contract prices are projected to rise by 13-18% quarter-over-quarter in the third quarter. The report highlights a persistent supply-demand imbalance, with a confirmed server DRAM supply shortfall expected in 2027, prompting cloud service providers to actively build inventory. This fundamental supply constraint supports higher pricing and revenue prospects for memory manufacturers like Micron.

Concurrently, several major financial institutions have reaffirmed confidence in Micron's prospects, with firms like Citibank, UBS, and Bank of America maintaining bullish ratings and price targets. The optimism extends across the memory sector, underscored by intense investor demand for SK hynix's upcoming US ADR listing, which received over seven times subscription, signaling sustained capital inflow into the "silicon-based inflation" theme centered on AI-driven memory chip demand.