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Just For You These 3 Beaten-Down Stocks Just Announced Massive Share BuybacksReported by Leo Miller. Posted: 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's "Hidden" Company
Stock buybacks are generally bullish for shareholders: they signal that management may view the stock as undervalued and reduce the number of shares outstanding, which can boost earnings per share. Recently, Salesforce (NYSE: CRM), DocuSign (NASDAQ: DOCU), and Qualcomm (NASDAQ: QCOM)—three large tech names that have each suffered dramatic drawdowns this year—announced sizable buyback programs that should catch investors' attention. Each stock has fallen at least 30% from its respective 52-week high, and their management teams are signaling confidence by initiating or expanding repurchase plans at price levels they likely view as depressed and poised to recover. Salesforce Announces Record $25 Billion Accelerated Repurchase Salesforce has become one of the poster children for the so-called "SaaSpocalypse," with CRM shares about 35% below their 52-week high. The term is shorthand for broad declines across many Software-as-a-Service (SaaS) stocks amid concerns that new artificial intelligence tools could reshape software economics. Critics worry that easier coding via AI or AI-native vendors could allow customers to replicate Salesforce's functionality at lower cost, pressuring pricing and growth. Salesforce, however, views AI as an enabler. Its AI add-on AgentForce recently reached $800 million in annual recurring revenue, a 169% year-over-year increase. Management is backing that conviction with capital: the company announced its largest-ever $25 billion accelerated share repurchase (ASR), roughly 14% of its ~$180 billion market capitalization. ASRs are the fastest way for a firm to buy back stock, making this a particularly strong signal that Salesforce regards its shares as materially undervalued. Wall Street appears to agree. Analysts see nearly 44% potential upside for CRM over the next 12 months, and the stock carries a consensus Moderate Buy rating, with 27 of 39 analysts assigning a Buy. DocuSign Lifts Repurchase Authorization to $2.6 Billion DocuSign has faced many of the same AI-related concerns that have pressured other software names. The stock is down nearly 50% from its 52-week high, including a decline of roughly 30% in 2026, and now trades at a forward price-to-earnings ratio near 11x—just above its all-time low. So far, negative effects from AI disruption haven't appeared in the company's results. DocuSign posted 8% sales growth in 2025, similar to the prior two years, and expects comparable growth and relatively stable margins this year. The market, however, is forward-looking and is weighing whether future results could deteriorate and whether DocuSign's guidance will hold. Management is responding with buybacks: alongside its latest earnings release—its 13th consecutive quarterly earnings beat dating back to Q3 2023—the company increased its repurchase authorization by $2 billion. That raises total authorization to $2.6 billion, about 28% of DocuSign's roughly $9.5 billion market cap. The firm spent approximately $269 million on buybacks in the latest quarter, a 66% year-over-year increase, and the new authorization suggests buyback activity could accelerate further. Analysts are bullish as well, modeling more than 41% potential upside over the next 12 months. Qualcomm Boosts Buybacks as Memory Woes Weigh on Shares Shares of semiconductor giant Qualcomm trade roughly 35% below their 52-week high. Qualcomm has limited exposure to the AI data-center megatrend, which has contributed to its underperformance relative to many large-cap chip peers. Ironically, Qualcomm's largest market—smartphones—is being held back by the AI buildout. Handsets accounted for about 64% of revenue in the latest quarter, and the company expects handset revenue of around $6 billion next quarter, down 13% year-over-year. Smartphone makers are cutting orders for Qualcomm's processors because they can't secure enough dynamic random-access memory (DRAM) to complete phone assemblies. Memory makers are reallocating DRAM capacity toward high bandwidth memory (HBM) for AI systems—higher-margin, faster-growing products—leaving Qualcomm at a disadvantage in the near term. Still, Qualcomm is confident in its long-term opportunities in automotive and robotics markets. To underline that confidence, the company announced a $20 billion buyback authorization, bringing total repurchases to $22.1 billion, roughly 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 dedicating substantial capital to share repurchases after large drawdowns. Buybacks don't erase the risks that prompted those selloffs, but they do put real money behind management's view that valuations are more attractive today. Among the three, Salesforce's accelerated share repurchase is the most forceful signal, reflecting both urgency and conviction. The bigger test, however, will be execution and whether upcoming results persuade investors that the AI-related concerns weighing on legacy software are overstated. | 
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