Micron Investor Sees December 9 Buyback Expansion as the Stock's Next Catalyst

Micron's board has raised its share repurchase authorization to $35.16 billion from $10 billion. The expanded program takes effect on December 9 and could serve as a catalyst for the stock. Analysts expect the buyback to help push the company's global DRAM market share toward nearly 30%. The current 12-month average price target is $1,621.67, implying about 84.5% upside.

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