“Apple is set to announce an update to its capital return program in April, and investment firm RBC Capital Markets believes the company could return some $65 billion to investors annually, creating yet another reason to buy into the company’s stock,” Neil Hughes reports for AppleInsider.
“Analyst Amit Daryanani issued a new research note on Thursday, a copy of which was provided to AppleInsider, announcing that he has raised his price target on shares of AAPL to $140, up from his previous prediction of $130,” Hughes reports. “Daryanani believes the company could ‘comfortably’ announce a $65-billion-plus capital return program for fiscal year 2016. He sees increases in both dividends and buybacks as a use for the company’s massive cash hoard.”
Hughes reports, “Daryanani’s expectation is that Apple will return 100 percent of its free cash flow to investors, helping to finance a 50 percent increase in its quarterly dividend to a 2 percent yield.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Dan K.” for the heads up.]