At $1,069, Is Micron Stock Going to Split?
Micron stock has rallied nearly 500% over the last year.
Overview
Micron Technology (NASDAQ: MU) has crossed into territory that would have sounded ridiculous a few years ago: the stock has risen 485% over the last year, now trading above $1,000 per share and valuing the company at $1.2 trillion. Naturally, this ascent raises an obvious question. Is a stock split coming?
Plenty of technology companies have split their shares after big rallies in recent years. In the semiconductor landscape, Nvidia and Broadcom both completed a 10-for-1 split in 2024. Micron presents an interesting case. The company is generating record profits and mountains of cash thanks to the artificial intelligence (AI) memory boom.
Details
During the company's fiscal fourth quarter earnings call last week, management told investors exactly what it wants to do with excess cash. That plan centers on buying back stock -- not splitting it.
Source
Originally published at www.fool.com.