Apple’s $110 Billion Stock Buyback Plan is Largest in US History
(Bloomberg) — In a move fitting for one of the largest companies in the world, Apple Inc. just announced the biggest US buyback ever, saying its board approved an additional $110 billion in share repurchases.
With the announcement, the maker of iPhones tops its own record for largest buyback value announced in the US. 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.
“An astonishing number,” said Steve Sosnick, chief strategist at Interactive Brokers LLC. “Apple 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.”
All told, Apple is responsible for the top six of the 10 largest share-repurchase announcements ever made in the US. The list also includes Chevron Corp. and Alphabet Inc.
