$Micron Technology(MU)$ UBS has turned more positive on Micron's potential for capital returns. The firm's analysis suggests that, once the current buyback restriction ends in December 2026, Micron could potentially repurchase more than 40% of its outstanding shares by the end of 2028.
The key driver in this view is cash generation. UBS projects that Micron could generate over $400B in free cash flow through 2028, which would provide significant flexibility for an aggressive share repurchase program.
If memory demand holds up, the buyback narrative could become another major catalyst for the stock.
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