The AI-driven rally in Micron Technology Inc (NASDAQ:MU) is producing unprecedented winners in the ETF market.
The Direxion Daily MU Bull 2X Shares (NASDAQ:MUU) and the GraniteShares 2x Long MU Daily ETF (NASDAQ:MULL) have emerged as the best-performing U.S.-listed ETFs year to date, each delivering gains of around 800% as Micron's blistering stock rally continues to gather steam.
The two funds have benefited from surging investor enthusiasm for AI infrastructure plays, with Micron cementing its position as one of the biggest beneficiaries of the artificial intelligence boom through its leadership in high-bandwidth memory (HBM), a key component used in AI accelerators.
Why Micron Is Powering The Rally Micron has become one of Wall Street's hottest AI trades.
The company reported a series of strong quarterly results and raised expectations for sustained HBM demand.
