In recent news, Apple has announced a new share buyback program of $110 billion, making it the largest publicly traded company in US history. This buyback program surpasses the company’s previous record set in 2018 for the largest share buyback program in the United States. By committing to this new buyback program, Apple is demonstrating a shift towards being a value company that returns money to its shareholders. This move contrasts with its previous identity as a growth company that required funds for research and development.
Out of the ten largest share buyback programs announced by US listed companies, six of them belong to Apple. The company’s recent financial results saw a decrease in revenue, but Apple remains optimistic about a return to growth in the current quarter. In aftermarket trading, Apple’s shares rose by up to 7.9%, signaling a positive market response to the company’s announcements. Overall, Apple’s recent decisions have boosted investor confidence and raised hopes for the company’s future performance. Despite a previous decline in share price, Apple’s market value is projected to increase significantly if the positive momentum continues.
