Movement Alert｜GraniteShares 2x Long MU ETF Rises 8.33% in Pre-Market Trading, UBS Raises Micron Target to Wall Street High of $1,625

Market Focus05-27

On May 27, GraniteShares 2x Long MU ETF rose 8.33% in pre-market trading, trading at $705.35/share, with trading volume of $6.68 million. The leveraged ETF tracked gains in Micron Technology following a historic target price upgrade.

UBS raised its price target on Micron from $535 to $1,625, the highest on Wall Street, implying a market capitalization of approximately $1.8 trillion. The core thesis centers not on HBM alone, but on the memory industry's first adoption of enhanced long-term agreements (LTAs) featuring fixed volume commitments and partially fixed pricing frameworks. Hyperscalers have secured approximately 60%-70% of industry Server DDR5 volumes under these agreements. UBS raised its adjusted EPS estimates for fiscal 2026-2028 by 8%-25%, to $63.74, $142.23, and $169.64 respectively, projecting stable EPS above $100 through 2027-2029. The firm maintained a Buy rating, arguing that the structural shift from cyclical to growth-like earnings visibility warrants a re-rating to more normalized valuation multiples. Micron's market capitalization crossed $1 trillion for the first time on the session.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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