UBS says Micron could buy back over 40% of its shares by end-2028

In a note on Monday, July 20, 2026, UBS said Micron could repurchase more than 40% of its shares by the end of 2028 and generate over $400 billion of free cash flow through 2028. UBS also flagged Micron, SanDisk, Western Digital, Seagate, Broadcom and AMD as attractive at the time. Micron rose 7% to $923 intraday the next day as the note and a BofA target raise lifted memory names.

• UBS: repurchase more than 40% of shares by end-2028
• UBS: over $400 billion of free cash flow through 2028
• Also flagged: SanDisk, Western Digital, Seagate, Broadcom, AMD
• Micron up 7% to $923 intraday on July 21