Key Points
The Direxion Daily Semiconductor Bull 3X Shares ETF (NYSEMKT: SOXL) rose 12.2% by 11:20 a.m. ET on Monday, propelled by significant movements in key semiconductor stocks: Micron Technologies (NASDAQ: MU), Advanced Micro Devices (NASDAQ: AMD), and Intel (NASDAQ: INTC).
Micron’s stock increased nearly 3% after analyst Brian Chin at Stifel set a $1,500 price target, citing a projected 20% growth in DRAM sales by 2027. Advanced Micro Devices’ shares surged 9.1% as it reached a $1 trillion market capitalization for the first time, while Intel’s stock gained 14% amid positive sentiment surrounding an upcoming summit between U.S. President Trump and Chinese President Xi, which includes discussions on AI and semiconductor demand.
These three companies collectively account for about 21% of SOXL’s market cap, reflecting strong optimism for the semiconductor sector amid anticipated growth and strategic partnerships.
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