Apple’s recent shift towards being a value company has significantly increased its share price on the secondary market. The technology giant announced a $110 billion share buyback program, 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 a new buyback program, Apple is demonstrating its commitment to returning money to its shareholders. This move contrasts with its previous identity as a growth company that required funds for research and development. Share buybacks help increase the value of the remaining shares by reducing the total number of outstanding shares, benefiting the company’s owners.
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.
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. With this latest move towards becoming more investor-friendly, it seems that Apple is poised for continued success in
