"Apple’s $110 billion stock buyback plan is largest in U.S. history"

" Apple's $110 billion stock buyback plan is largest in U.S. history \r\n\r\nIn a move fitting for one of the largest companies in the world, Apple Inc. just announced the biggest U.S. buyback ever, saying its board approved an additional US$110 billion in share repurchases.\r\n\r\nWith the announcement, the maker of iPhones tops its own record for\u00a0largest buyback value\u00a0announced in the U.S. In 2018, the tech giant authorized $100 billion in share repurchases, according to data compiled by market research firm Birinyi Associates that goes back to 1999.\r\n\r\n \r\n\r\n\u201cAn astonishing number,\u201d said Steve Sosnick, chief strategist at Interactive Brokers LLC. \u201cApple may be acknowledging that they are becoming a value stock that returns money to shareholders rather than a high powered growth stock that needs its cash for R&D or expansion.\u201d\r\n\r\nAll told, Apple is responsible for the top six of the 10 largest share-repurchase announcements ever made in the U.S. The list also includes Chevron Corp. and Alphabet Inc.\r\n\r\nApple also reported\u00a0quarterly results\u00a0post-market Thursday that exceeded investor expectations. The company posted sales that were better than estimates and predicted that it would return to\u00a0revenue growth\u00a0in the current period. Apple also raised its quarterly dividend for the twelfth year in a row. That stoked hopes that the slowdown that\u2019s hit the company is easing.\r\n\r\nShares rose as much as 7.9 per cent in post-market trading. If the gains hold on Friday, the move would add more than $190 billion in market value.\r\n\r\nThe gains are a welcome reversal for Apple investors as the technology giant has lagged its Magnificent 7 peers this year through Thursday\u2019s close. Apple shares are down 10 per cent, while the S&P 500 Index is up more than 6 per cent."

"Apple’s $110 billion stock buyback plan is largest in U.S. history"

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