Landon Capital News
Micron Technology (NASDAQ:MU) disclosed in its 10-K filing on Friday that its board authorized an increase in its discretionary share repurchases to $35.16 billion, the largest buyback ceiling in the company’s history, though investors will have to wait until December 9, 2026, for the program to kick in.
The buyback news could boost the red-hot stock, which has surged more than 270% year-to-date, driven by an AI-fueled memory supercycle, yet sits about 18% below its 52-week high of $1,255 set on June 25.
The December 9 start date is not arbitrary. Restrictions in Micron’s CHIPS Act direct-funding agreements prohibit share repurchases until then.
The authorization lands on the back of a historically profitable year. Micron reported record fiscal Q4 2026 revenue of $54.23 billion, up 379% year-over-year, with non-GAAP EPS of $33.42 and a non-GAAP gross margin of 87%, all above consensus. Full fiscal 2026 revenue reached $133.19 billion, up from $37.38 billion a year earlier, and GAAP net income hit $84.97 billion.
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