Thu. Sep 28th, 2023
Apple has spent more than $500 billion in stock buybacks since 2012 — more than Visa, JPMorgan or Exxon is worth.
Apple CEO Tim Cook attended the Apple conference "Ted Lasso" Season 2 premieres at Pacific Design Center on July 15, 2021 in West Hollywood, California.

Apple CEO Tim Cook.Axel / Power Griffin / Movie Magic

  • Apple has spent more than $500 billion on stock buybacks since 2012, according to a Markets Insider analysis.

  • Only eight S&P 500 companies are worth more than the iPhone maker’s total buybacks to date.

  • Warren Buffett welcomed the Apple buybacks because they solidified his ownership at no cost to him.

apple It has spent over $500 billion on share buybacks over the past decade, according to a Markets Insider analysis.

The tech giant has spent more on buybacks since 2012 than the entire market cap visa ($489 billion), JPMorgan ($446 billion), or Exxon Mobil ($441 billion). Only eight companies in the S&P 500 are worth more than Apple’s buyback spending so far.

In fact, Apple has spent over $50 billion annually buying its own stock since 2018. It spent $90 billion on buybacks in the last fiscal year, and bought back $56 billion worth of its own stock in Nine months until July 1.

Moreover, the iPhone board of directors recently approved another $90 billion worth of buybacks. This amount exceeds the total value Citigroup ($85 billion), and nearly twice the market capitalization of Hershey ($46 billion).

It was Apple’s amazing habit of buying back Putting a mark In a tweet this week by Charlie Pililo, chief market strategist at Creative Planning. Pelillo too male The iPhone maker’s buybacks slashed the number of shares outstanding by more than a third, from about 25 billion to less than 16 billion.

Warren Buffett, a longtime champion Buyback wise, he was a fan of Apple buybacks. for him Berkshire Hathaway Empire owns nearly 6% of Apple, and the position represents Almost half of its stock portfolio of approximately $350 billion. When Apple buys back shares, it consolidates Berkshire’s ownership at no cost to the group.

Buffett wrote in his book 2021 Letter to Shareholders. “Tim Cook, the brilliant CEO of Apple, quite rightly considers users of Apple products to be his first love, but all his other classes also benefit from Tim’s managerial touch.”

Read the original article at Business interested

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