Memory stocks got absolutely smoked today and then I saw this.
SK Hynix is planning to buy back and cancel almost $29B worth of its own shares.
$29 billion.
They’re also saying more than half of cumulative FCF from 2025-27 is going back to shareholders.
I knew they were printing money from the memory boom but I didn’t expect a buyback anywhere near this big lol.
Especially after the stock just got whacked almost 10% in a day.
Whatever you think about memory being in a bubble or not, management clearly isn’t acting like they’re worried about running out of cash anytime soon.