Following a record-breaking fiscal year, Micron Technology said it ended 2026 with $73.48 billion in cash and investments. Surging AI-driven demand helped fuel its performance.
Micron generated $33.20 billion in adjusted free cash flow in the fourth quarter.
CFO Mark Murphy said the company expects to return 100% of its excess cash to shareholders over time, primarily through stock buybacks. The expanded capital-return program is scheduled to begin after December 9, 2026. That date marks the second anniversary of Micron signing its CHIPS Act funding agreements, which currently restrict buybacks.
Management plans to seek a near-term increase to its existing $2.2 billion share repurchase authorization. The company said the move reflects confidence in sustained financial performance.
Micron’s fourth-quarter revenue reached $54.23 billion, up 379% year over year. The company also provided robust guidance for fiscal 2027.