What’s Behind the Jump in Western Digital’s Stock Price?
Western Digital (NASDAQ: WDC) stock surged by over 5% in Tuesday’s trading and remains up by close to 40% over the past month. So what’s driving the stock higher?
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Authorization of Share Purchase Program
Western Digital announced a new $2 billion share repurchase program, reflecting strong confidence in its long-term outlook. Effective immediately, the program allows for share buybacks via open market purchases, private transactions, or under a Rule 10b5-1 plan. This initiative follows the recent launch of a quarterly dividend and reinforces the company’s shareholder-focused capital allocation strategy—prioritizing reinvestment, debt reduction, and capital returns as outlined on
