“Apple Inc’s blockbuster results and a ballooning cash pile may prompt the company to boost share buybacks and dividends this year, with some analysts expecting the iPhone maker to return more than $200 billion to investors,” Tenzin Pema and Abhirup Roy report for Reuters. “”
“The company posted the biggest ever quarterly profit reported by a public corporation,” Pema and Roy report. “‘We had to increase our cell widths and chart heights after Apple’s blow-out December-quarter print,’ RBC Capital Markets analysts wrote, raising their price target to $130 from $123. At least 13 brokerages raised their price targets on the stock.”
“Apple said last April it would return more than $130 billion to shareholders by the end of 2015. The company is due to update its capital return program in April,” Pema and Roy report. “Analysts also expect Apple to continue to benefit from growth in China and a surge in new customers, including those making the switch to Apple from smartphones using Google Inc’s Android software.”
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