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SanDisk, Phillips 66, and MetLife expand buyback capacity by $27B
SanDisk added a $14 billion authorization, bringing total buyback capacity to $15.5 billion, after revenue rose 372% year over year last quarter and adjusted gross margin increased to just under 85%.
MarketBeat Ratings highlights three large-company buyback announcements that together add $27 billion in new or expanded repurchase capacity, positioning the moves as a sign of management confidence after strong share price performance in 2026. SanDisk, cited as cementing its role in AI infrastructure, announced an additional $14 billion share buyback program, bringing its total buyback capacity to $15.5 billion. The outlet also notes that SanDisk does not pay a dividend and plans to return 100% of excess cash to shareholders, with buybacks expected to be the mechanism. The same write-up links SanDisk’s repurchase announcement to recent operating momentum, saying NAND flash SSD demand from AI customers drove a 372% year over year revenue increase last quarter. It also says adjusted gross margin rose by more than 5,800 basis points to just under 85%, while the stock is up more than 500% in 2026.
MarketBeat Ratings places the SanDisk update alongside buyback additions from Phillips 66 and MetLife, describing the combined $27 billion in added buyback capacity as further evidence of cash flow and balance sheet flexibility following a strong run. The article frames repurchases as potentially boosting per share metrics after shares have rallied.