Apple has announced a record-breaking $110 billion share buyback program, surpassing its previous record of the largest share buyback program by a listed company in the US. This move comes as the technology giant shifts towards a value-oriented approach that prioritizes shareholder returns over growth initiatives like research and development. Despite a decrease in quarterly revenue compared to the previous year, Apple’s earnings per share exceeded analyst forecasts. The company remains optimistic about future growth prospects and raised its quarterly dividend for the twelfth consecutive year.
Following the announcement, Apple’s stock rose by up to 7.9% in aftermarket trading, signaling renewed investor confidence in the company’s future performance. If this trend continues, Apple’s market value could increase by over $190 billion. The news of Apple’s return to growth and the record-breaking share buyback program have positioned the tech giant favorably in the market, despite a recent decline in share price earlier in the year. Analysts and investors are closely watching Apple’s performance, anticipating further positive developments from the company.
