Chief Market Strategist Charlie Bilello tweeted that, Apple had a buyback of $566 billion in stock over the past 10 years, which is greater than the market cap of 494 companies in the S&P 500.
The US technology Giant, Apple Inc’s stock shows a relentless rise over the past decades and it spends nearly $566 billion on share buybacks in the past 10 years.
US technology giant, Apple
Due to its large cash flow and willingness to return that money to investors and the quality trade, which makes investors started to see Apple as a “Flight to safety”. When compared to other companies, Apple spent more on buybacks.
In January 2013, shares stood at $19.60, whereas in January 2023, it becomes $180.73. Even if Alphabet (GOOGL) and Amazon (AMZN) are combined, Apple is still more worth it. Apple reaches its first $1 trillion in August 2018 and its market cap is nearly 200%.
- Apple’s buyback pace increased rapidly from $33 billion to $73 billion, from 2027 to 2018.
- Last year, it spent $90 billion on repurchasing
- On 3rd February 2023, the market value of Apple is $2446.7B.
- Apple has bought back $566 billion in stock over the past 10 years.
- It is greater than the market cap of 494 companies in the S&P 500.
From fiscal 2017 to 2018, Apple’s buyback pace increased rapidly from $33 billion to $73 billion. At that time CFO Luca Maestri said, Apple has net cash of $66 billion. After this announcement, that’s down from the net cash of $163 billion.
Last year, it spent $90 billion on repurchasing, which is about equal to Citigroup Inc’s Market value. Investors like buybacks because they provide a lift to earnings per share by reducing a company’s share count.
The company overpays when the stock is overvalued for buying at a time is a major risk. The world’s largest company Apple has a market value of almost $2.4 trillion.
The market capitalization represents the company’s value otherwise, the current stock price is multiplied by the number of outstanding shares. On 3rd February 2023, the market value of Apple is $2446.7B.
For the past 10 years, Apple Inc’s shares Outstanding got decreased whereas Stock buybacks are increasing. On 4th February 2023, its stock buybacks are $88.40B, and $566 billion in buybacks over the past 10 years, which is the market cap of 494 companies in the S&P 500.
