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Featured Story from MarketBeat.com These 3 Beaten-Down Stocks Just Announced Massive Share BuybacksWritten by Leo Miller. Article Published: 3/24/2026. 
Key Points - Salesforce is acting quickly to buy back its stock, announcing a huge accelerated repurchase program.
- DocuSign's buyback capacity now exceeds 25% of its market capitalization with shares down nearly 50% from recent highs.
- As the memory shortage delivers blows to Qualcomm, the company just pushed its buyback authorization above $20 billion.
- Special Report: Elon Musk: This Could Turn $100 into $100,000
Stock buybacks are generally bullish for shareholders. Besides signaling that management may view the stock as undervalued, repurchase programs reduce the number of shares outstanding and, by extension, can increase earnings per share. Recently, Salesforce (NYSE: CRM), DocuSign (NASDAQ: DOCU), and Qualcomm (NASDAQ: QCOM)—three well-known tech names that have all experienced dramatic drawdowns this year—announced large buyback programs that should catch investors' attention. The AI bottleneck has shifted from chips to power. Goldman Sachs projects demand growing 15% per year, with 40% of AI facilities constrained by electricity shortages by 2027. One company holds $1.5 billion in backlog orders for the exact equipment these data centers need - yet Wall Street still prices it like a sleepy industrial stock. The June SpaceX IPO could change that fast. See the math Wall Street is missing before the SpaceX IPO Each has fallen at least 30% from its 52-week high, and their management teams are signaling confidence by authorizing sizable repurchases at prices they likely view as depressed and potentially poised to rebound. Salesforce Announces Record $25 Billion Accelerated Repurchase Salesforce has become one of the poster children of the so-called "SaaSpocalypse," with CRM shares down about 35% from their 52-week high. The term refers to broad declines across many Software-as-a-Service (SaaS) stocks amid concerns that new artificial intelligence (AI) tools could reshape software economics. As AI lowers barriers to coding, some worry that customers could use AI to replicate Salesforce's functionality or that AI-native vendors could undercut pricing by building similar tools at lower cost. Salesforce, however, views AI as an enabler rather than a threat. Its AI add-on AgentForce recently reached $800 million in annual recurring revenue, a 169% year-over-year increase. Management remains confident and has backed that view with action: the company announced its largest-ever $25 billion accelerated share repurchase (ASR), roughly 14% of its ~ $180 billion market cap. ASRs are a particularly strong show of confidence because they are the quickest way to retire shares, implying Salesforce views its stock as significantly undervalued. Wall Street appears to agree: analysts see nearly 44% potential upside for CRM over the next 12 months, and the consensus rating is Moderate Buy, with 27 of 39 analysts assigning a Buy. DocuSign Lifts Repurchase Authorization to $2.6 Billion DocuSign has faced similar AI-related headwinds that have pressured other software names. The stock is down nearly 50% from its 52-week high, including a drop of about 30% in 2026. DOCU now trades at a forward price-to-earnings (P/E) ratio near 11x, just above its all-time low. Like many software companies, the potential negative impacts from AI haven't yet appeared in the financials. DocuSign posted 8% sales growth in 2025, roughly in line with the prior two years, and expects similar growth and stable margins this year. But the market is forward-looking, and investors are weighing whether results could deteriorate and whether guidance will hold. Still, DocuSign is signaling confidence through buybacks. Alongside its latest earnings release—its 13th consecutive quarterly earnings beat dating back to Q3 2023—the company increased its buyback authorization by $2 billion. That raises total authorization to $2.6 billion, roughly 28% of DocuSign's ~ $9.5 billion market cap. The firm spent about $269 million on buybacks in the latest quarter, up 66% year-over-year. The new authorization suggests the repurchase pace could accelerate, indicating management's bullish stance. Analysts are likewise optimistic, forecasting more than 41% potential upside over the next 12 months. Qualcomm Boosts Buybacks as Memory Woes Weigh on Shares Shares of semiconductor giant Qualcomm are trading about 35% below their 52-week high. Qualcomm has limited exposure to the AI data center megatrend, which has contributed to its underperformance versus many large and mega-cap chip peers. Ironically, Qualcomm's largest market is being hurt by the AI buildout. In the latest quarter, handsets—essentially smartphones—accounted for about 64% of revenue. The company expects handset sales of roughly $6 billion next quarter, a 13% year-over-year decline. Smartphone makers are cutting orders for Qualcomm's processors because they can't secure enough DRAM, limiting their ability to assemble complete phones. Memory makers are shifting DRAM capacity toward high bandwidth memory (HBM) to serve the AI market, where HBM commands higher prices and margins. That reallocation leaves Qualcomm on the sidelines of a portion of the AI-driven demand surge. Still, Qualcomm is confident about the long term, pointing to traction in automotive and a sizable robotics opportunity. The company backed that confidence with a $20 billion buyback authorization, bringing total repurchase authority to $22.1 billion—about 17% of its ~ $137 billion market cap. The buyback comes at a timely moment: analysts forecast more than 29% potential upside over the next 12 months. When Shares Slide, Buybacks Speak Across Salesforce, DocuSign, and Qualcomm, the common thread is scale: each company is allocating substantial capital to share repurchases after significant drawdowns. Buybacks don't erase the risks behind these selloffs, but they do put real money behind management's view that valuations have become more attractive. Among the three, Salesforce's accelerated share repurchase is the most forceful signal, conveying both urgency and conviction. The true test, however, won't be the size of the authorizations but whether execution and results over the coming quarters convince the market that the AI-related fears weighing on legacy software are overstated. | 
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