Micron Raises Buyback Authorization to $35.16 Billion

Micron Technology has increased its share-repurchase authorization to $35.16 billion, while its stock has weakened amid concerns about competition and the durability of memory-chip prices. The decision, recorded in the company’s annual report, followed a fiscal year of strong results tied to demand for artificial-intelligence infrastructure. Micron shares fell about 1.5% in premarket trading on October 14, after losing roughly 12% over the previous five trading sessions, according to one market report. Another account put the decline at about 4% during Wednesday’s trading. Those figures reflect different trading periods and should not be read as the same measurement. The stock’s recent pullback has come despite strong demand for memory used in AI servers and data centers. Micron reported fiscal 2026 fourth-quarter revenue of $54.23 billion. Its annual report records fourth-quarter free cash flow of $33.2 billion for the quarter ended September 3. The company’s chief financial officer, Mark Murphy, said on a September 30 earnings call that free cash flow in fiscal first quarter should be significantly higher than in the fourth quarter.