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Berkshire, Broadcom & Nucor Are Revving Their Buyback Engines
Author: Leo Miller. Article Posted: 3/16/2026.
Key Points
- Berkshire Hathaway is signaling that its shares are below their intrinsic value as it restarts buyback spending.
- Chips giant Broadcom likely sees something similar in its stock as the firm's buyback activity is picking up big-time.
- Steel giant Nucor has surged over the past 52 weeks and now has large buyback capacity.
- Special Report: Elon Musk's $1 Quadrillion AI IPO
Two companies with market capitalizations over $1 trillion and North America's largest steel producer recently announced significant buybacks. All three are signaling confidence in their outlooks — in particular, the world's largest financial services stock appears to believe investors are undervaluing it.
Berkshire Announces Resumption of Buybacks After Almost Two-Year Hiatus
Warren Buffett's Berkshire Hathaway (NYSE: BRK.B) is one of the most renowned investment firms. It is one of only 12 companies with a market capitalization above $1 trillion and the only financial services firm in that group.
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Click Here to See how to Get Your "SpaceX Access Code"Despite its long track record, Berkshire has struggled recently. Shares have fallen after each of the company's past four earnings reports, including a nearly 5% drop after the most recent release.
This weakness followed a quarter in which the company missed estimates significantly, with operating earnings down 30%. The decline was driven largely by weakness in Berkshire's insurance operations, where underwriting earnings fell 54%.
Over the past 52 weeks, Berkshire shares have been essentially flat.
Unlike most companies, Berkshire doesn't announce buyback authorizations tied to a specific dollar amount. A 2018 amendment to its buyback policy lets the firm repurchase shares whenever it believes they are “below Berkshire’s intrinsic value, conservatively determined.”
The company evidently concluded that condition applied in early 2026. In a recent SEC filing, the firm said: “We are disclosing that we commenced repurchasing shares of our common stock under this policy on Wednesday, March 4, 2026.” The extent of those repurchases is unknown, but the move indicates Berkshire sees value in its shares. Notably, the firm had not repurchased stock since mid-2024.
AVGO Undertakes Huge Buyback Spending and Reloads Its Chest
Semiconductor behemoth Broadcom (NASDAQ: AVGO), another member of the $1 trillion club, is also ramping up buybacks. Broadcom's results have been very strong, driven by demand for its artificial intelligence (AI) solutions.
In its latest quarter, the company beat estimates on both sales and adjusted earnings per share and provided much stronger-than-expected guidance for the next quarter. Broadcom also said it sees a path to generating over $100 billion in AI revenue during fiscal 2027, which roughly aligns with calendar 2027.
For reference, that $100 billion would be about 46% more than the $68.3 billion in total revenue the firm generated over the last 12 months. That projection excludes non-AI semiconductor sales and Broadcom's infrastructure software, which together accounted for 56% of total revenue last quarter.
Despite these positives, Broadcom shares are down roughly 20% from their all-time high.
Broadcom's recent buyback activity suggests management believes the market is undervaluing the company. Last quarter the firm spent $7.8 billion on repurchases, its second-highest quarterly buyback total ever, after making little in the way of significant repurchases over the prior two quarters.
The company also announced a new $10 billion repurchase authorization. While that amount is less than 1% of Broadcom's roughly $1.5 trillion market capitalization, it is still a clear vote of confidence. The program is only effective through the end of 2026, which suggests Broadcom intends to act quickly to take advantage of its lower share price.
NUE's Buyback Capacity Exceeds 10% as Shares Put Up Impressive Gains
Finally, Nucor (NYSE: NUE) — a major North American steel producer — has also announced a significant repurchase plan. Based on 2024 data, Nucor produced more steel than any other North American company. Global production is dominated by Asian firms, however, leaving Nucor outside the top 10 worldwide. Nucor stock has performed well over the past 52 weeks, delivering a total return of about 25%.
Several factors have supported Nucor. U.S. steel tariffs have reduced imports from foreign competitors, bolstering domestic demand for the company's products.
Nucor notes the foreign share of the U.S. finished steel market stood near 25% at the start of 2025 and is estimated to have fallen to about 14% by November 2025. Nucor expects that share to remain steady or decline further in 2026.
Demand from Nucor's primary end markets — including infrastructure, data centers and energy — is also strong. Those dynamics helped the company enter 2026 with what it calls “historically strong backlogs,” with its steel mill backlog rising 40% year over year and its steel products backlog up 15%.
Against that backdrop, Nucor announced a $4 billion share buyback program. That authorization equals nearly 11% of the company's roughly $37 billion market capitalization, giving Nucor substantial capacity to return capital to shareholders over time.
AVGO's Buybacks Signal Undervaluation as AI Demand Explodes
Among the group, Broadcom's recent surge in buyback activity and its new authorization stand out. The company likely believes its results and outlook don't justify the sizable drawdown in its stock price. These moves signal confidence for a company positioned at the center of the AI infrastructure buildout.
These Insider Trades Look Like Clear Signals—Until You Read the Fine Print
Reported by Leo Miller. Published: 3/24/2026.
Key Points
- Broadcom insider selling looks large in dollar terms, but the March transactions cited in filings are described as automatic “sell-to-cover” trades tied to RSU tax withholding.
- AppLovin insider selling picked up during the stock’s pullback, but much of it appears consistent with planned or routine activity, and the CEO still retains a sizable equity stake.
- Coupang’s recent disclosed buying by director Neil Mehta via Greenoaks-linked vehicles stands out as a more discretionary move, coming after the company’s widely reported data-incident overhang.
- Special Report: Elon Musk's $1 Quadrillion AI IPO
Insider trading can look like a flashing buy-or-sell signal, but the story is more nuanced in three market leaders.
Big sales of Broadcom (NASDAQ: AVGO) and AppLovin (NASDAQ: APP) largely reflect routine mechanics like tax withholding and pre-set plans, while a sizable Coupang (NYSE: CPNG) purchase stands out as a deliberate vote of confidence.
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As a result, my research now leads me to believe Elon will announce the SpaceX IPO on this date:
March 26, 2026. Circle it on your calendar.
I'm sharing an "access code" that lets anyone grab a pre-IPO stake before it happens. This is your invitation to the biggest wealth-building event of the decade.
Click Here to See how to Get Your "SpaceX Access Code"While the implications of these moves may seem obvious at first, insider trades are often not what they appear to be. The key is separating automatic or scheduled transactions from genuinely discretionary moves that may carry more informational weight.
Broadcom Insider Selling Tops $88 Million: Red Flag or Business as Usual?
Semiconductor lynchpin Broadcom is the world's leader in custom-designed artificial intelligence (AI) processors.
Recently the company has seen significant insider selling. So far in March, insiders have sold about $88.3 million in Broadcom stock, part of roughly $123 million in insider sales since the start of the quarter.
Those transactions came from four individuals, including two senior executives. Chief Financial Officer and Chief Accounting Officer Kirsten Spears sold approximately $19 million, and President of Broadcom's Semiconductor Solutions Group Charlie Kawwas sold about $21 million. These sales follow roughly $250 million in shares sold in Q4 2025.
The headline number can look unsettling, especially given the stock's recent volatility. But the key detail is why the shares were sold.
All of Broadcom's insider sales in March "were sold through automatic transactions to cover withholding taxes due upon vesting of restricted stock units (RSUs)," according to the Form 4 SEC filing.
RSUs are stock-based compensation that converts into shares when the award vests. Because vesting is generally treated as taxable income, insiders must pay taxes on it. Companies often use a "sell-to-cover" process that automatically sells a portion of the newly vested shares to satisfy withholding obligations. In other words, these sales were not discretionary and do not necessarily signal a bearish view on AVGO.
AppLovin: Insider Selling Picks Up as the Stock Pulls Back
AppLovin has become a dominant player in the mobile game advertising and user-acquisition space, helping drive its market capitalization to nearly $150 billion.
There are several reasons the stock has fallen nearly 40% from its 52-week high, including the broader software sell-off that began at the start of the year.
There were no insider sales in AppLovin during the first two months of the year, but that changed as Q1 progressed. So far in March, insiders have sold roughly $160 million in AppLovin shares.
Most of these sales fall under 10b5-1 plans. Under those plans, insiders set a schedule for sales well in advance, which reduces the likelihood that the transactions convey timely negative information.
One exception is CEO Adam Foroughi's $42 million sale, which was not executed under a 10b5-1 plan. While it's never encouraging to see a CEO sell shares, the size of the sale is relatively modest in context. After the recent transactions, Foroughi's direct ownership declined from about 2.55 million shares to 2.43 million shares—a drop of less than 5%.
Given that most sales were pre-scheduled and the CEO's stake was only slightly reduced, the recent insider selling at AppLovin is not an especially strong red flag.
Coupang: Institutional Insider Ups Position as Shares Tank
On the other side of the equation, insiders are buying into e-commerce stock Coupang.
Coupang is the largest player in the South Korean e-commerce market, with a market capitalization of roughly $35 billion.
However, the stock has struggled, trading nearly 44% below its 52-week high and down more than 19% in 2026.
A major data breach has been a significant headwind, exposing the personal information of 33.7 million users—the largest breach in South Korean history. The incident has hurt growth; Coupang reported Product Commerce revenue growth of just 12% year-over-year in its latest quarter, down from 18% the prior quarter. The company attributes the slowdown in part to reduced customer activity after the breach.
Amid the weakness, Neil Mehta—a director and member of Coupang's board—disclosed a purchase of approximately $137 million in CPNG shares via his investment firm Greenoaks Capital Partners LLC, increasing his position by about 11%.
Because the buying was done through Greenoaks-managed funds, it represents institutional accumulation, which is typically viewed as a more constructive signal than routine insider selling.
What These Trades Might (and Might Not) Say
Broadcom's and AppLovin's insider selling may look bearish at first glance, but context matters: sales tied to RSU tax withholding or pre-set plans often reflect compensation mechanics and timing rather than executives' views on the business. Those transactions don't automatically validate the stocks' recent pullbacks.
Coupang's disclosure is a clearer "signal" because it reflects added exposure during weakness by Greenoaks-managed funds. Even so, it doesn't guarantee a near-term bottom; it suggests the buyer may view the breach's fallout as more temporary than the market is pricing in and is taking a longer-term view.
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