On July 6, Direxion Daily MU 2X Bull ETF (MUU) rose 11.23% overnight, trading at $855.3/share, with turnover of $25.42 million. The leveraged ETF tracking Micron Technology rebounded sharply following the chipmaker's announcement of a major capacity expansion.

On July 5, Micron Technology officially broke ground on a 1.5 trillion yen (approximately $9.3 billion) expansion of its Hiroshima, Japan facility. The project aims to produce advanced memory chips including High Bandwidth Memory (HBM), a critical component for NVIDIA's AI processors, with shipments expected to begin around summer 2028. Japan's Ministry of Economy has allocated up to 500 billion yen in subsidies to support the project, with total government funding reaching approximately 775 billion yen.

The expansion announcement comes amid broader industry tailwinds, including UBS raising storage chip price forecasts with DRAM supply tightness expected through at least H1 2028, and Micron's recent blockbuster earnings showing revenue surging 346% year-over-year to $41.5 billion in Q3 FY2026. The move also counters bearish sentiment following Michael Burry's disclosed short position at $1,051.87 per share earlier in the week.

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