Western Digital authorized a massive expansion of its share repurchase program, adding $4 billion to the existing authorization for a total potential buyback capacity of $4.48 billion, causing the stock to jump 7.40% on the news.

  • CEO Irving Tan stated the authorization reflects the company's conviction in its future prospects while balancing reinvestment, debt reduction, and shareholder returns.
  • The buyback announcement follows strong recent Q2 FY2026 results, which reported $3.02B in revenue (a 25% year-over-year increase) and robust guidance, driven partly by demand for AI data.
  • After closing at $290.24, the stock traded lower in after-hours activity, settling at $285.00 (-1.81%).