On September 17, Direxion Daily MU Bull 2X Shares surged 8.43% in regular trading, reaching $31.68/share with turnover of $224 million. The leveraged ETF amplified the underlying rally in Micron Technology, which gained over 3% during the session after back-to-back sessions of steep declines totaling more than 10%.

The rebound was driven by multiple converging catalysts. TD Cowen analyst Sankar set a $1,600 target price on Micron, based on a 9x multiple of estimated fiscal 2027 earnings, arguing the stock remains undervalued. Sankar also anticipated Micron could approve a $200–$250 billion share buyback program, with the next major catalyst being the September 30 earnings report where consensus EPS stands at approximately $31.17.

Simultaneously, Micron announced its India semiconductor packaging and testing facility in Sanand has commenced commercial production, with capacity expected to scale to hundreds of millions of chips by next year. The company also demonstrated the world's first 512GB DDR5 RDIMM module running at up to 9,200 MT/s, targeting next-generation AI data center workloads. Storage sector peers including SK Hynix and Sandisk also rallied over 5%, reflecting broad sector strength.

(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.)