Direxion Daily MU Bull 2X Shares

MUU

Market cap $107M

Micron Technology Inc (NASDAQ:MU) easily ranks among the top-performing equities, gaining over 140% since the start of the year. For context, Advanced Micro Devices Inc (NASDAQ:AMD) — another high-flying enterprise in the advanced semiconductor space — has swung up 97% during the same frame.

Micron smashed its fiscal Q4 earnings with beats across the board and positive guidance on Tuesday, which should gives bulls more room to run. However, its largest peer in the semiconductor space, Nvidia, could be heading in the opposite direction.

When it comes to market cap size, Micron Technology (MU) might not crack the top 10 in largest semiconductor companies, but it's still a name to watch. With the broad semiconductors industry continuing to gain strength, MU is poised for further upside.

While artificial intelligence may dominate the digital sphere, this innovation wouldn't amount to much without specialized memory chips. That's where semiconductor giant Micron Technology Inc. MU comes into view.

A persistent bullish trade this year has been the semiconductor industry with the S&P 500 Semiconductors Index up over 80% for the year. As semiconductor sales grow, this gives traders various options for bullishness, including 5 ETFs from Direxion.

On Thursday, Direxion launched four new leveraged and inverse ETFs that bring single-stock exposure to the semiconductor sector.  The Direxion Daily AVGO Bull 2X Shares (AVL) and the Direxion Daily AVGO Bear 1X Shares (AVS) focus on Broadcom.