Qualcomm's rosy forecast sends stock surging, and more buybacks may be on deck
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Qualcomm has announced an increase in its stock buyback program by $15 billion, following a previous repurchase of over $4 billion in the last fiscal year. This news has led to a surge in Qualcomm's stock price.
November 06, 2024 | 9:45 pm
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Qualcomm's stock surged after announcing a $15 billion increase in its buyback program, following a $4 billion repurchase last fiscal year.
The announcement of a significant increase in the buyback program is a strong signal of confidence from Qualcomm's management, likely leading to a positive short-term impact on the stock price. The previous $4 billion repurchase also indicates a consistent strategy to return value to shareholders.
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IMPORTANCE 90
RELEVANCE 100