Micron board lifts share‑repurchase ceiling to $35.16 billion, effective Dec 9 2026
Micron Technology’s board approved a discretionary share‑buyback program of up to $35.16 billion, the largest in the company’s history. The authorization will become active on 9 December 2026 once restrictions in its CHIPS Act funding agreements expire. The move follows a record fiscal‑2026 year in which the company generated $133.19 billion of revenue and $84.97 billion of GAAP net income.
Why it matters
The expanded buyback ceiling gives Micron the ability to return a substantial portion of its cash to shareholders once the December 9 start date arrives, potentially supporting the stock’s upward momentum. Analysts cited in the filing expect the company may increase the pace of repurchases as free‑cash flow grows.
Key facts
- 1The board authorized a discretionary share‑repurchase program of up to $35.16 billion. investing.com
- 2The program will start on 9 December 2026, when CHIPS Act funding restrictions lift. investing.com
- 3Fiscal‑2026 revenue was $133.19 billion, compared with $37.38 billion in the prior year. investing.com
- 4GAAP net income for fiscal 2026 was $84.97 billion. investing.com
- 5Micron spent $650 million buying back 2.5 million shares during fiscal 2026. investing.com
- 6Analyst Kevin Cassidy (Rosenblatt) gave Micron a Buy rating and a $1,900 price target, expecting the board to keep raising repurchase authorizations as free‑cash flow materialises. investing.com
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.