- Historic $110 billion buyback surpasses previous records.
- Immediate 7.9% spike in Apple’s share price post-announcement.
- Company projects continued revenue growth and increases dividend.
Apple Inc. has set a new benchmark with an unprecedented $110 billion stock buyback, marking the largest such initiative in US history. This strategic move surpasses its previous record of $100 billion set in 2018. The announcement was coupled with a robust after-hours share price increase of up to 7.9%, positioning Apple to potentially add over $190 billion in market value if these gains extend into regular trading.
Following the announcement, Apple’s financial performance also impressed, with quarterly results surpassing expectations and projections indicating a return to revenue growth in the coming quarter. This positive outlook is further bolstered by Apple’s decision to raise its quarterly dividend for the twelfth consecutive year, signaling confidence in its financial stability and ongoing profitability.
Despite a challenging year where Apple’s stock declined by 10% while the S&P 500 rose by over 6%, this move has reignited optimism among investors. The company now holds six of the top ten largest buyback announcements in US history, a testament to its enduring financial strength and commitment to shareholder value.