“The company early this decade began in earnest to spend on both share repurchases and dividends after some sporadic activity dating to the 1980s,” Kingsbury reports. “Overall, Apple bought $201 billion of stock and paid $67.2 billion of dividends through the opening quarter of this year, according to FactSet data. Add a portion of that back to Apple’s $933 billion market cap and total share value would right now be well above $1 trillion.”
“Apple’s market cap will take a further hit this week as the company updates its share count a day or two after its Tuesday results release,” Kingsbury reports. “The company announced a record $100 billion stock-buyback plan in May and Chief Financial Officer Luca Maestri said then that repurchases would occur ‘at a fast pace.’ The rate has already been picking up, with shares outstanding falling 3.1% in the fiscal second quarter ended March. A similar reduction for this past quarter would cut Apple’s market cap by almost $30 billion versus current calculations.”
Read more in the full article here.
MacDailyNews Take: $268.2 billion in buybacks and dividends – and counting!
Apple is within striking distance of $1,000,000,000,000 – July 31, 2018