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If you’re a Micron Technology (MU) shareholder, you’re already having a pretty good year. Micron is one of the best-performing stocks in all of the S&P 500 ($SPX) right now and is up over 200% year-to-date (YTD), as the company’s growing role in artificial intelligence is drawing more interest in the memory chipmaker.
And now investors have another reason to be excited—Micron's board of directors authorized a whopping $35.16 billion share repurchase program. The new authorization, approved Oct. 8, gives Micron the ability to buy back its stock beginning Dec. 9 and expands an existing program that had approximately $2.16 billion remaining.
