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Western Digital Authorizes New $2.0 Billion Share Repurchase Program

1. Western Digital announces a $2 billion share repurchase program. 2. This move reflects confidence in future growth and product strength.

Shares Buyback
+5.65%Current Return
VS
+0.78%S&P 500
$46.5705/13 09:15 AM EDTEvent Start
$49.205/14 04:03 PM EDTLatest Updated
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FAQ

Why Bullish?

Share repurchase programs typically signal management's confidence, potentially boosting stock price. Historical examples include companies like Apple that saw share prices rise following buybacks.

How important is it?

The announcement of a significant share repurchase indicates strong managerial confidence, which can attract investors and lead to stock price appreciation. Given the size of the buyback, the impact is likely substantial in the short term.

Why Short Term?

Immediate effects from buyback announcements are often seen in stock price rallies. Past trends indicate stock price increases in the days or weeks following similar announcements.

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AAPLAMZNMSFT
SAN JOSE, Calif.--(BUSINESS WIRE)--Western Digital Corp. (Nasdaq: WDC) today announced that its Board of Directors has authorized a new $2.0 billion share repurchase program. The repurchase authorization is effective immediately. Share repurchases may be made on the open market or in privately negotiated transactions and may be made pursuant to a Rule 10b5-1 plan. “The share repurchase program underscores our strong confidence in Western Digital's future, the depth of our product portfolio, and.

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