Editor's note: Any and all references to time frames longer than one trading day are for purposes of market context only, and not recommendations of any holding time frame. Daily rebalancing ETFs are not meant to be held unmonitored for long periods. If you don't have the resources, time or inclination to constantly monitor and manage your positions, leveraged and inverse ETFs are not for you.

Investing in the funds involves a high degree of risk. Unlike traditional ETFs, or even other leveraged and/or inverse ETFs, these leveraged and/or inverse single-stock ETFs track the price of a single stock rather than an index, eliminating the benefits of diversification. Leveraged and inverse ETFs pursue daily leveraged investment objectives, which means they are riskier than alternatives which do not use leverage. They seek daily goals and should not be expected to track the underlying stock’s performance over periods longer than one day. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. The Funds will lose money if the underlying stock’s performance is flat, and it is possible that the Bull Fund will lose money even if the underlying stock’s performance increases, and the Bear Fund will lose money even if the underlying stock’s performance decreases, over a period longer than a single day. Investing in the Funds is not equivalent to investing directly in MU.

Shares of Micron Technology, Inc. (Ticker: MU) have spent the past two months trading within a twenty-point range following an impressive run up from the April lows. This legacy chip company has lagged notably behind some of its peers, but could the current economic backdrop finally lead to a more meaningful recovery?

Evolving into a New Tech Environment

Micron remains a cornerstone of the semiconductor industry, providing essential memory and storage solutions for AI, data centers, and consumer electronics. Its portfolio of solutions positions it as a leader in the semiconductor space.

Micron’s core strengths include innovative memory products, a robust global supply chain, and partnerships with tech giants. The company’s expansion into automotive, IoT, and 5G markets, along with investments in next-generation memory like DDR5 and CXL, displays its diversified growth strategy.

Micron’s growth relies on expanding AI-driven memory solutions, increasing production capacity, and managing global supply chain challenges. Strategic collaborations with companies like NVIDIA, Intel, and AMD, combined with investments in advanced fabrication facilities, support its long-term growth. Micron’s commitment to sustainable manufacturing and energy-efficient chips further strengthens its competitive edge.

Traders that think bulls can push Micron to new all-time highs may find an opportunity with Direxion’s Daily MU Bull 2X Shares (Ticker: MUU), which seeks daily investment results, before fees and expenses, of 200% of the performance of Micron Technology, Inc. common stock (Ticker: MU).

Below is a daily chart of MU as of September 25, 2025.

Source: TradingView.com

Candlestick charts display the high and low (the stick) and the open and close price (the body) of a security for a specific period. If the body is filled, it means the close was lower than the open. If the body is empty, it means the close was higher than the open.

The performance data quoted represents past performance. Past performance does not guarantee future results.

The A.I. Arms Race

Micron faces fierce competition from Samsung, SK Hynix, and Western Digital, which may offer cheaper or more advanced memory solutions to gain market share. Economic factors also pose risks. As a company tied to global tech demand, Micron is vulnerable to macroeconomic shifts, and they haven’t been as strong on growing their earnings than some of their peers in the semiconductor industry.

Its September 24 earnings showed revenue and margins in line with its updated outlook, but guidance was cautious, with management warning that near-term pricing pressure and supply dynamics could weigh on results. The market’s reaction has been mixed, and traders are debating whether Micron’s AI-driven memory demand is enough to offset cyclicality in PCs, phones, and traditional servers.

In this case, Direxion’s Daily MU Bear 1X Shares (Ticker: MUD), which seeks daily investment results, before fees and expenses, of 100% of the inverse performance in common shares of Micron Technology, Inc. (Ticker: MU) could provide an opportunity to take advantage of some downside price action.

Micron stalled after an early run. Post-earnings, the stock remains rangebound, and the next move could be a breakout—or a breakdown. Trade MUU (Bull) or MUD (Bear) for tactical exposure.

*Definitions and Index Descriptions

An investor should carefully consider a Fund’s investment objective, risks, charges, and expenses before investing. A Fund’s prospectus and summary prospectus contain this and other information about the Direxion Shares. To obtain a Fund’s prospectus and summary prospectus call 866-476-7523 or visit our website at direxion.com. A Fund’s prospectus and summary prospectus should be read carefully before investing.

Direxion Shares Risks – An investment in a Fund involves risk, including the possible loss of principal. Each Fund is non-diversified and includes risks associated with a Fund concentrating its investments in a particular security, industry, sector, or geographic region which can result in increased volatility. A Fund’s investments in derivatives such as futures contracts and swaps may pose risks in addition to, and greater than, those associated with directly investing in securities or other investments, including imperfect correlations with underlying investments or the Fund’s other portfolio holdings, higher price volatility and lack of availability. As a result, the value of an investment in a Fund may change quickly and without warning.

Leverage Risk – The Bull Fund obtains investment exposure in excess of its net assets by utilizing leverage and may lose more money in market conditions that are adverse to its investment objective than a fund that does not utilize leverage. A total loss may occur in a single day. Leverage will also have the effect of magnifying any differences in the Fund’s correlation with MU and may increase the volatility of the Bull Fund.

Daily Correlation Risk – A number of factors may affect the Bull Fund’s ability to achieve a high degree of correlation with MU and therefore achieve its daily leveraged investment objective. The Bull Fund’s exposure to MU is impacted by MU’s movement. Because of this, it is unlikely that the Bull Fund will be perfectly exposed to MU at the end of each day. The possibility of the Bull Fund being materially over- or under-exposed to MU increases on days when MU is volatile near the close of the trading day.

Daily Inverse Correlation Risk – A number of factors may affect the Bear Fund’s ability to achieve a high degree of inverse correlation with MU and therefore achieve its daily inverse investment objective. The Bear Fund’s exposure to MU is impacted by MU’s movement. Because of this, it is unlikely that the Bear Fund will be perfectly exposed to MU at the end of each day. The possibility of the Bear Fund being materially over- or under-exposed to MU increases on days when MU is volatile near the close of the trading day.

Micron Technology, Inc. – MU faces risks associated with the highly competitive nature of the semiconductor industry; economic and market uncertainty; reductions in demand for its products; potential concentration of revenues in a few large clients as among other risks.
Information Technology Sector Risk — The value of stocks of information technology companies and companies that rely heavily on technology is particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation, and competition, both domestically and internationally, including competition from competitors with lower production cost.

Semiconductor Industry Risk – Semiconductor companies may face intense competition, both domestically and internationally, may have limited product lines, markets, financial resources or personnel and may face risks related to the availability of materials.

Additional risks of each Fund include Effects of Compounding and Market Volatility Risk, Derivatives Risk, Counterparty Risk, Rebalancing Risk, Intra-Day Investment Risk, Industry Concentration Risk, Market Risk, Indirect Investment Risk, and Cash Transaction Risk. Additionally, for the Direxion Daily MU Bear 1X Shares, Shorting or Inverse Risk. Please see the summary and full prospectuses for a more complete description of these and other risks of a Fund.

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