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Shares of Micron and SK Hynix declined after Chinese memory maker CXMT announced progress on a new 4F square cell architecture. The company plans to launch a server memory product using this design by the end of 2026.
BusinessTrending
Micron Technology's board authorized a record $35.16 billion share repurchase program. The buybacks are scheduled to begin December 9, 2026, following the expiration of restrictions in the company's CHIPS Act funding agreements.
Micron posted fiscal fourth-quarter revenue of $54.23 billion, up 379% from a year earlier, and forecast $61.5 billion for the current quarter as AI-driven memory demand stays tight.
