Malcolm Owen for AppleInsider:
Observations from JP Morgan of the 10-K filing seen by AppleInsider reveals Apple’s retail strategy is “driving greater direct purchases from customers,” with Apple Stores and its website accounting for 31% of total revenue for the financial year. This is an improvement from the 29% seen for the 2018 fiscal year and 28% in 2017.
JP Morgan also noticed an uptick in share repurchases during August, when Apple had low share price levels hitting $193 per share. While in July Apple rebought 24 million shares, the pace accelerated in August to 35 million shares, then went down to 27 million in September.
This apparently demonstrates a “willingness to use repurchases opportunistically and limit downside for investors,” JP Morgan reckons. The activity still leaves Apple with repurchase authorizations of $78.9 billion outstanding at the end of the year.
MacDailyNews Take: Despite vociferous complaints about how much they’ve changed over the years, Apple Retail Stores are obviously thriving and continue to grow sales to record levels.