On May 20, Direxion 2X Long MU ETF rose 8.72% in regular trading, trading at $488.265/share, with trading volume of approximately $386 million. The leveraged ETF tracked strong gains in Micron Technology, which closed up 2.52% with $42.4 billion in turnover.

The rally was driven by a wave of bullish analyst upgrades on Micron. Citi nearly doubled its target price from $425 to $840, maintaining a Buy rating, citing expectations that DRAM average selling prices will surge approximately 200% year-over-year in 2026 as AI demand pushes the memory industry into a historic super cycle. HSBC simultaneously raised its Micron target from $750 to $1,100. Citi projects Micron's fiscal 2027 core EPS will exceed $100 for the first time, reaching $104.56.

Additionally, Samsung Electronics workers confirmed a strike action, further tightening industry supply. Analysts noted that SK Hynix and Micron cannot quickly fill Samsung's capacity gap, potentially intensifying the supply-demand imbalance in both HBM and conventional DRAM markets through 2027.

(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.)