Micron Technology Inc's move back above $1,000 has reinforced its standing as one of the market's strongest AI-linked trades, with the stock up about 260% year to date and roughly 36% from its July low. That rally has pushed leveraged products such as Direxion Daily MU Bull 2X Shares (MUU) and GraniteShares 2x Long MU Daily ETF (MULL) back into focus, as both funds seek 200% of Micron's daily move and can diverge over time because of daily resetting (rebalancing leverage each session). MUU has gained around 588% since the start of the year, adjusted for its July 15 20-for-1 split, while MULL uses swaps to obtain its exposure and is marketed by GraniteShares as an active-trading vehicle. The bullish case is tied to demand for Micron's HBM3E and HBM4 memory products as hyperscalers (large cloud operators) expand data centers and Nvidia and AMD accelerators need more advanced memory, while JPMorgan strategist Jay Kwon said the supply crunch could last another two years and Trivariate Research's Adam Parker said Micron could generate close to $300 billion in free cash flow over two years and eventually reach a $1 trillion market capitalization. The move is also lifting broader funds including SOXX, SMH, SHOC, CHPX, FTXL, SPMO and HBMX, but for investors betting the AI-driven memory cycle has further to run, MUU and MULL remain the most aggressive ETF expression of that thesis.