Siemens Energy’s €1 Billion Buyback Is No Match for the AI Liquidation
28.06.2026 - 09:41:53 | boerse-global.de
The stock was supposed to be cushioned by a massive share repurchase, but Siemens Energy got swept up in a broader technology rout on Friday. The shares closed at €154.28, down 6.32% in a single session — a sharper decline than the broader DAX, which lost just 1.3% on the day. The sell-off came despite the company actively buying back its own shares under a program launched in early June that aims to repurchase up to €1 billion worth of equity by the end of September.
The market’s mood was set in Asia and quickly spread. Investors took profits across the global technology complex, and Siemens Energy, increasingly seen as a key beneficiary of the artificial-intelligence infrastructure buildout, was caught in the crossfire. The company supplies the transformers, grids, and power equipment that data centers and AI networks rely on, making it a de facto AI proxy. When funds rotate out of the sector, the stock suffers — even if the underlying business continues to fire on all cylinders.
Despite the rout, the company’s fundamentals remain strong. Siemens Energy reported a record order backlog of €154 billion in the spring and subsequently raised its full-year guidance. The buyback itself was designed to signal confidence, but on Friday it failed to staunch the selling. That combination of operational strength and share-price weakness leaves investors expecting clarity from the management’s pre-close call, which will take place before the quiet period begins on July 1 ahead of the third-quarter results, scheduled for August 5.
Should investors sell immediately? Or is it worth buying Siemens Energy?
Technically, the chart has taken a hit. The stock fell below key short-term trend lines on Friday and now sits roughly 21% below its 52-week high of €195.54. The relative strength index stands at 43.8 — neutral — while the annualized 30-day volatility has surged to 58%, underscoring the stock’s violent swings. The longer-term picture is not yet broken: the shares still trade nearly 10% above their 200-day moving average, and on a year-to-date basis they are up 25.64%, with a one-year gain of around 65%.
Traders are watching the €139.95 support level as a critical floor. If that holds, the technical damage could be contained. But the near-term outlook is heavily dependent on external factors. This week brings Eurostat’s preliminary inflation data for June and the US ISM manufacturing PMIs — macro figures that could either calm or reignite the sector-wide angst.
For Siemens Energy, the next major catalyst remains the August 5 earnings report. Between now and then, the quiet period will keep management from commenting, leaving the stock at the mercy of an AI narrative that has turned abruptly volatile. The buyback may eventually provide a floor, but for the moment, it is being overwhelmed by a much larger tide.
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