Micron Technology CFO Mark Murphy announced the company plans to increase capital returns to shareholders primarily through stock buybacks beginning December 9, 2026. The date marks the two-year anniversary of Micron's final CHIPS Act agreement signing. The semiconductor giant reported $44 billion in operating cash flow and $33.2 billion in free cash flow for fiscal Q4 2026. Murphy stated the company expects to return 100% of excess cash to shareholders over time as part of its capital allocation strategy.