From friend-of-the-blog Robert Paul Leitao:
In the largest series of acquisitions of a single company’s shares in history, Apple is buying Apple. Over the long-term it’s a better investment for Apple than purchasing Netflix, Tesla or Disney. Indeed. It’s time to put talk of those acquisitions to rest.
See the number of outstanding shares drop…
As buyback spending accelerates… (Not seeing the Datawrapper chart? Click here.)
My take: In theory, these buybacks reward existing shareholders, although you wouldn’t know it from this quarter. Best use of the profits Apple repatriated in 2018? Also not immediately apparent.