WSJ: Apple is the buyback king

From Tripp Mickle’s Apple Allays iPhone Worries, Adds $100 Billion to Buyback Plans in Tuesday’s Wall Street Journal ($):

Apple’s $100 billion share-repurchase plan is the largest ever announced by a U.S. company, according to data from research firm Birinyi Associates. Apple said its board also approved a 16% increase in its quarterly dividend. That put it on track to spend $14.82 billion a year in dividends, making it the largest dividend payer, according to S&P Dow Jones Indices.

buyback king

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buyback king

My take: Two charts almost worth the price of subscription.


  1. Gianfranco Pedron said:

    Hi Philip,

    Just a thought, it might be interesting to plot the number of outstanding shares over the quarterly spend in the second graph and maybe adding in the average cost per share to Apple during the quarter.

    Safe return.

    May 2, 2018
  2. Robert Paul Leitao said:

    Again, Apple’s capital return program is the largest transfer of assets from an enterprise to its shareholders in history.

    Those who claim Apple should consider acquisitions with the company’s cash instead of buybacks are really missing the point.

    Apple is also engaged in the biggest enterprise “acquisition” in history. Apple is buying Apple for the benefit of long-term shareholders. Even at today’s higher share price following yesterday’s release of March quarter results and June quarter guidance, Apple will continue to buy Apple at the market’s discounted price.

    The buybacks provide the best return on investment Apple could accomplish through acquisitions because Apple is buying Apple.

    May 2, 2018

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