“Apple has already spent $80 billion buying its own shares,” Philip Elmer-DeWitt reports for Fortune. “It’s set to spend another $60 billion.”
“Since Apple it hit a split-adjusted high of 6.637 billion shares outstanding in 2012, the company has repurchased 12.09% of its fully diluted shares,” P.E.D. reports. “‘In a way,’ writes Braeburn Group’s Robert Paul Leitao, ‘the massive share repurchase program works as a leveraged buyout for the benefit of long-term shareholders.'”
“Leitao is bullish on Apple,” P.E.D. reports. “He thinks Wall Street still doesn’t get what’s going on.”
Read more in the full article here.
MacDailyNews Take: Wall Street still doesn’t get what’s going on with Apple, that much is sure.
[Thanks to MacDailyNews Reader “Jeff.L” for the heads up.]