Micron Resumes Buybacks That Had Been Suspended Amid Slump
- Company was rare Nasdaq 100 company to not buy back stock
- Micron makes memory chips that are vital for AI processing
Micron Technology headquarters in Boise, Idaho.
Photographer: Kyle Green/BloombergThis article is for subscribers only.
Micron Technology Inc., citing a brighter outlook, is resuming a stock buyback program that it had suspended nearly two years ago during an industry downturn.
The largest US maker of computer memory chips sells a vital component of artificial intelligence hardware — high-bandwidth memory — that works with processors from Nvidia Corp. to crunch data. While its earnings forecast last month failed to impress investors, the company has been hailed as one of the biggest potential beneficiaries of the generative AI boom.