On June 15, GraniteShares 2x Long MU Daily ETF rose 10.63% overnight, trading at $802.52/share, with turnover of $1.94 million. As a 2x leveraged ETF tracking Micron Technology, the fund amplified the underlying stock's sustained upward momentum driven by the storage chip sector rally.

The move follows a period of strong gains across the memory and storage sector. Micron Technology recently surged 11.7% in a single session as chip stocks staged a broad rebound, with the Philadelphia Semiconductor Index climbing nearly 8%. Morgan Stanley analyst Shawn Kim noted that the storage cycle is still accelerating, stating that earnings revision momentum remains strong and more sustainable than most believe. AI infrastructure demand continues to serve as a key bottleneck for DRAM supply, supporting pricing power for major producers.

Market research firm Counterpoint Research has characterized the current environment as a storage super-cycle, with memory prices expected to rise 40-50% quarter-over-quarter through early periods, driven by AI server capacity expansion. SK Hynix's non-exclusive partnership with NVIDIA further reassured markets that Micron's supply position remains intact.

(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.)