- Micron's board authorized additional $33 billion in buybacks, total $35.16 billion.
- TD Cowen analyst expected $20 billion authorization.
- Micron's gross profit in most recent quarter was ~$47 billion.
- Nvidia no longer >10% of Micron's quarterly revenue.
- CXMT announced progress on 4F square cell architecture for server memory.
- Micron disclosed a $33 billion increase in its share-repurchase authorization in a Form 10-K, bringing total to $35.16 billion. TD Cowen analyst Krish Sankar views the larger-than-expected program as a signal that Micron aims to be more shareholder-friendly than rival SK Hynix. Separately, Chinese competitor CXMT announced progress on 4F square cell architecture for server memory, expected to launch later this year. Micron's stock fell more than 4% Monday amid broader chip sector weakness and the CXMT news.
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