Apple (AAPL) has spent over $69 billion on stock buybacks in the last nine months

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As a seasoned investor who has witnessed Apple’s meteoric rise since the turn of the century, I must say that the latest news about their stock buybacks is nothing short of impressive. With a staggering $69 billion spent on repurchasing shares over the last nine months, it’s hard not to be awestruck by such a figure. It’s almost as if they’re buying up the entire tech industry one share at a time!

As a long-time investor and follower of the tech industry, I have always been impressed by Apple’s financial performance. This week, the company released its Q3 2024 earnings results, which included some intriguing developments, such as stock buybacks. In the past nine months alone, Apple announced that it had repurchased approximately $69 billion of its common stock back from shareholders during its FY 2024. To put this into perspective, I have been investing in stocks for over two decades, and I have rarely seen a company with such significant buying power. This move demonstrates Apple’s strong financial position and confidence in the future growth of the company. As an investor, it is reassuring to see a tech giant like Apple making strategic decisions that could potentially benefit shareholders like myself in the long run.

In its Q3 2024 Financial Report, Apple disclosed that it allocated approximately $69.86 billion for common stock repurchases during its entire FY 2024. This figure represents a significant jump compared to the total spending on similar stock buybacks in the last three quarters of FY 2023, which amounted to $56.54 billion. As a result, Apple increased its spending on this metric by around $13.32 billion from one fiscal year to the next.

In 2024, Apple has been making noteworthy moves, one of which was unveiling the Apple Vision Pro VR/AR headset in February. This device is packed with innovative technology, yet critics argue that it falls short on software, particularly considering its $3500 price tag and lack of compelling reasons to purchase. Despite exceeding revenue and earnings per share (EPS) analyst predictions in Q3 2024, Apple also saw a 1% decrease in iPhone sales year-over-year. While the company remains financially stable, there are signs that its prolonged growth period may be slowing as anticipation and novelty surrounding upcoming generations of its leading products wane.

Keeping that thought in mind, it’s worth noting that Apple is indeed delivering for its shareholders. If you’re interested in learning about Apple and other companies revealing their earnings, make sure to keep visiting Shacknews for the latest news and updates.

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2024-08-02 02:57