Apple announces record $110B stock buyback
https://macdailynews.com/2024/05/02/apple-beats-the-street-announces-largest-ever-110-billion-share-buyback/ Luca Maestri, Apple’s CFO, said in a statement. “Given our confidence in Apple’s future and the value we see in our stock, our Board has authorized an additional $110 billion for share repurchases.” CNBC says it is "a 22% increase over last year’s $90 billion" stock buyback https://www.cnbc.com/2024/05/02/apple-aapl-earnings-report-q2-2024.html UPDATE: this is the largest stock buyback in history https://finance.yahoo.com/news/apple-110-billion-stock-buyback-220603961.html
CNBC
MacDailyNews
Warren buffet must be patting cook on his back.
What’s the problem here? It’s how things have been going on. Those investors will invest in companies with growth and hire people in other skills set.
Good for short term, but red flags because it means management has no vision for the long term. You can't deploy the capital to create value other than buying back stock? Cautionary tale: When the Intel CFO became the permanent CEO because the board couldn't find a CEO replacement in over a year (remember Apple semiconductor boss Srouji and even current CEO Gelsinger turned the position down back in 2018), all Intel could do was do record stock buybacks and questionable acquisitions because it had no product vision or long-term growth prospects. Look at Intel now. Around 125B market cap. NVDA is 2150B. AMD is 236B. Back in 2018, it had a market cap of 200B. NVDA was 82B. AMD was 20B.
Of course everyone knows, they just don’t see Apple growing anymore. The investors want to cash out
It means the growth story is over. Welcome to new reality. The only way to increase share price is buyback from their holding cash. Same goes for Google.
Exactly
Or company wants to make profit from their next hike