SK Hynix just announced a nearly $29B buyback after the stock fell almost 10%

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.