Stock-Split Watch: Is Micron (MU) Next?

Micron Technology (MU) has been on an impressive run in 2026, gaining 138% year to date and becoming the fifth-best-performing stock in the S&P 500. This surge can be attributed to the growing demand for memory chips, which are essential components of AI data centers. Recently, Sandisk, a competitor in the memory sector, announced an 8-for-1 stock split, prompting speculation about whether Micron might follow suit.

However, Micron's management appears to have other priorities, as evidenced by their recent capital allocation decisions. The company's board expanded its existing share repurchase authorization to $35.16 billion, set to begin on December 9. This move comes as Micron's stock price has dropped significantly, trading around $682, down 44% from its all-time high.

While a stock split could potentially make Micron's shares more accessible to retail investors, the current price decrease suggests the potential financial benefit of a split may be less compelling at the moment.