Wipro, an IT services giant, announced its intention to consider a share buyback during its fourth quarter earnings report scheduled for April 16. This decision follows a significant decline in its stock price, which has fallen by over 20% in 2023. The buyback proposal comes amid growing concerns from investors regarding the strategy of IT companies to return cash to shareholders versus investing in emerging technologies like artificial intelligence (AI). While the specifics of the buyback, such as its size and price, have not yet been revealed, this move indicates a potential shift in Wipro's capital allocation strategy at a time when market sentiment towards IT stocks is particularly volatile. Investors will be keenly watching how this buyback aligns with broader industry trends and the company's future growth prospects.