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Micron Technology's Stock Surges on UBS Target Price Hike and $1 Trillion Market Cap Milestone

Micron Technology's shares experienced significant gains, rising over 4% in pre-market trading following UBS's tripling of the price target to $1,625, citing an AI-driven memory boom. The company's market capitalization surpassed $1 trillion for the first time, fueling a rally in related leveraged ETFs such as GraniteShares 2x Long MU ETF and Direxion 2x Bull MU ETF, which saw double-digit percentage increases. This surge reflects strong investor optimism about Micron's long-term growth prospects and structural re-rating due to enhanced agreements.

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