Semiconductor ETFs staged a violent rebound Tuesday, with leveraged funds SOXL and KORU each surging about 19% after Bank of America analyst Vivek Arya reiterated a Buy rating and a $1,550 price target on Micron Technology. Micron jumped 8% to $894.81 intraday, lifting the broader chip complex and Korea's memory giants Samsung and SK Hynix. The iShares Semiconductor ETF SOXX climbed 6% in the session, while the leveraged Direxion Daily Semiconductor Bull 3X Shares SOXL and Direxion Daily MSCI South Korea Bull 3X Shares KORU amplified the move. The rally follows a brutal late-July tariff-driven selloff that had slashed SOXL by 36% and KORU by 41% over the prior month. Despite KORU's 326% one-year gain, the fund has lost 16% over five years, illustrating how daily compounding erodes leveraged returns across choppy periods.
SK Hynix Inc
Micron Technology Inc
Samsung Electronics Co Ltd
Advanced Micro Devices Inc