While many other companies like Facebook-parent Meta Platforms have declined as much as 70%, Apple has hardly hit bear market territory from its all-time highs. In fact, Apple is now more valuable than Google, Amazon, Tesla, and Walmart combined.
So, what is Apple doing differently? Apple isn’t putting up massive earnings numbers, but it’s hitting expectations or only posting minor misses.
MacDailyNews Take: Apple is putting up massive earnings numbers.
But more important might be its massive share buyback program. Apple bought back almost $90 billion worth of its shares in fiscal 2022. Apple has spent over $550 billion in stock buybacks since the program began in fiscal 2013. This compares to Amazon’s $0 spent on buybacks and only about $15 billion for Google.
But maybe the tides are shifting. Google recently announced a share buyback program of nearly $70 billion for 2023 after seeing the success of Apple’s program. Meanwhile, some estimate Apple’s buybacks will slow as the dividends continue to increase, share buybacks become increasingly expensive, and profits potentially decrease because of the recession.
MacDailyNews Take: In April, after announcing yet another quarter of all-time record revenue, Apple’s board of directors declared a cash dividend of $0.23 per share of the company’s common stock, an increase of 5 percent. The board also authorized an increase of $90 billion to the existing share repurchase program.
Apple’s current market value is $2.314 trillion and you haven’t seen anything yet. Imagine a future Apple Inc. with a dynamic, charismatic, visionary CEO once again. It can happen!
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Remember when everyone was wishing Musk could helm Apple?
I can’t think of anything more destructive to reputation and shareholder value.
Do you mean the 2nd richest person in the world?
Is that who you mean, you stupid fuck?
The guy who lost half his net worth last year because it was based on a bubble? The guy who flushed another $44 billion down the drain last month?
The depth of libturd stupidity is staggering
Funny how the stupidest people are the ones that think that they are smarter than the most successful people in the world.
Talking to yourself again Becky?
You and Sam (see above) regularly demonstrate weapons-grade stupidity.
Clearly you both love Musk because he’s a right-wing sycophant.
veritas, you and the other libturds are a parasitic cancer that has infested this country. Shit for brains does not even come close to describing your stupidity.
I more accurate version of Becky’s statement: Funny how the stupidest people think that they are smarter than people much smarter than them.
Sam Sam Sam….once again with the feeble and repetitive insults.
The fact is that you low-life cretinous conservaturds are intestinal worms crawling out of the anus of humankind.
You regularly demonstrate you have NOTHING to add to the conversation except target and insult ALL not drinking the Leftist Kool-Aid…
Goob, you regularly submit debunked conspiracy theories like “200 Mules”.
You unceasingly rattled on about the “Red Tsunami” which never happened.
You are mixing and serving the vacuous right-wing kool-aid – does that crap really contribute to the conversation?
Come back and cast stones when you are blameless.
Yeah, revealing destructive truth (lies)–that many worked very hard to preserve–creates a bad reputation as many people in power (with vested interest in the concealment) won’t favor you. Revealing truth is very mean.
On the other hand, gaining riches–at the expense of some human’s harm–is laudable. and it’s such companies I support.
(This person never advocated for a Musk Apple, btw…but playing with another’s logic is always fun).
Man you nailed it so on the money. Kudos.
That said, I’d vote for Craig F for CEO. He has real tech chops, real enthusiasm, can speak sentences without SNL stilted cue card delivery.
I thought Musk was Jobs-level genius – until he started spouting politics.
I thought Musk was Jobs-level genius – until he started spouting politics I don’t like…which is true of so many today.