On June 25, Direxion Daily MU Bull 2X Shares (MUU) surged 35.24% in pre-market trading, trading at $1215.70/share, with turnover of approximately $76.68 million. The leveraged ETF amplified the sharp rally in underlying Micron Technology following its record-breaking fiscal Q3 results.
Micron reported fiscal Q3 revenue of $41.46 billion, up 346% year-over-year and far exceeding the analyst consensus of $35.69 billion. Adjusted EPS came in at $25.11, beating estimates by over 22%. Adjusted gross margin reached a historic 84.9%, surpassing major tech peers. Net income soared nearly 15-fold to $28.24 billion.
Guidance was equally impressive: Micron expects fiscal Q4 revenue of $49-51 billion versus consensus of $43.2 billion, and adjusted EPS of $30-32 versus expectations of $25.31. CEO Sanjay Mehrotra stated that AI-driven demand across all end markets, combined with structural supply constraints, will keep memory supply tight beyond 2027. Micron shares rose over 16% in after-hours trading, triggering broad rallies across storage and semiconductor names globally.
(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.)
Comments