Stock buyback predictions made by Goldman Sachs reveal unexpected developments
Investors are looking towards technology mega-caps to lead the stock buyback comeback, as corporate buyback activity has surged to record levels in 2025. According to Goldman Sachs, announced and actual buybacks are expected to exceed $1 trillion by year-end.
Historically, mega-cap tech companies have been heavy users of buybacks to return capital to shareholders. Companies like Apple, Microsoft, Alphabet, Amazon, and Meta are expected to lead the stock buyback comeback, given their market dominance and ongoing capital return strategies. However, there are no explicit, current lists of tech mega-caps with the largest announced buyback programs in 2024–2025.
ETFs and Funds for Buyback-Focused Investors
For those looking to invest in companies with robust buyback programs, several general strategies and funds can be used. Buyback ETFs, such as the Invesco BuyBack Achievers ETF (PKW) and SPDR S&P 500 Buyback ETF (SPYB), track companies with significant share repurchase activity. Mega-cap tech ETFs, like the Invesco QQQ Trust (QQQ), Technology Select Sector SPDR Fund (XLK), and Vanguard Information Technology ETF (VGT), offer broad tech exposure and indirect exposure to companies likely to lead buybacks.
Dividend Aristocrat ETFs, such as the ProShares S&P 500 Dividend Aristocrats ETF (NOBL), focus on companies with a history of increasing dividends, often overlapping with buyback leaders. However, no buyback-specific tech ETF is mentioned in the search results.
Key Takeaways
- Technology mega-caps remain the most probable leaders in stock buybacks, given their market weight and history.
- Direct buyback exposure in tech can be achieved through broad mega-cap tech ETFs (QQQ, XLK, VGT), though these are not specifically buyback-focused.
- Buyback-themed ETFs (PKW, SPYB) provide sector-agnostic exposure to companies with high repurchase activity, but not exclusively tech.
- Investors should monitor company filings and earnings announcements for the latest buyback authorizations, as these can change rapidly and are not always captured in generic ETF screens.
For the most accurate, up-to-date list of tech mega-caps leading buybacks, investors should consult recent company SEC filings, earnings releases, and analyst research. The Invesco Markets III plc-Global Buyback Achievers UCITS ETF - USD DIS ETF includes around 60% US stocks, as well as many European stocks, and can be used to invest in more than just US stocks with share buybacks.
The Amundi S&P 500 Buyback UCITS ETF EUR (C) with the WKN A2H562 invests in the 100 companies from the S&P 500 that had the highest share buyback ratio in the past 12 months. Current top positions for this ETF include United Rentals, Phillips 66, Valero Energy, and Nucor.
The BöRSE ONLINE Tech-Giganten Index and the Invesco Markets III plc-Global Buyback Achievers UCITS ETF are options for investors to benefit from the anticipated stock buyback comeback. Goldman Sachs expects stock buybacks to reach $1.075 trillion for the first time in 2025, and the decline in government bond yields and an easing of monetary policy are cited as reasons for the increase in buybacks by Goldman Sachs. Buybacks have historically served as a way for companies with strong cash balances to achieve share price gains in times without other positive catalysts.
- Mega-cap tech companies, such as Apple, Microsoft, Alphabet, Amazon, and Meta, are anticipated to lead the stock buyback comeback given their market dominance and ongoing capital return strategies, making them attractive for investors focusing on finance and investing in the technology sector.
- For buyback-focused investors, the Invesco Markets III plc-Global Buyback Achievers UCITS ETF - USD DIS ETF offers exposure to around 60% US stocks, as well as many European stocks, making it a potential choice for those seeking a diverse portfolio of companies with robust buyback programs, including tech mega-caps.
