On October 2, Direxion Daily Semiconductors Bull 3x Shares rose 5.28% in regular trading, trading at $154.74/share, with turnover of $7.78 billion. The rally was primarily driven by global memory leader Micron Technology posting blockbuster earnings that significantly exceeded expectations.

Micron reported revenue surging 379% year-over-year, with gross margins reaching an exceptional 87%. The company explicitly stated that memory and storage supply-demand dynamics will tighten further over the next two years, formally confirming a storage chip pricing super cycle. The strong results lifted semiconductor stocks broadly, with ARM up 4%, AMD and Intel up over 3%, and NVIDIA gaining 1.5%.

Adding to the bullish sentiment, UBS Securities projected global semiconductor revenue to reach $1.63 trillion, representing 118% year-over-year growth, with the expansion cycle expected to persist through at least 2028. AI computing chips, advanced packaging, and equipment materials were identified as core growth themes.

The fund invests at least 80% of its net assets in financial instruments that provide 3X daily leveraged exposure to an index tracking the thirty largest U.S. listed semiconductor companies. The fund is non-diversified.

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