Apple (AAPL) Announces $110 Billion Stock Buyback Program for 2024
Published on Β· Source: finance.yahoo.com
AI Summary
Summarized by AI from the source belowApple (AAPL) has authorized a $110 billion stock buyback for 2024, marking its largest-ever repurchase program under CEO Tim Cook. Since 2011, Apple has repurchased $877 billion in shares, reducing outstanding shares from 26 billion to 14.6 billion by July 2026, a decrease of about 44%. With a market cap of $4.6 trillion as of August 19, 2023, the new buyback authorization could buy back just over 2% of the company. This is significant for shareholders as it enhances their ownership percentage, although the company's P/E ratio has increased to 36 times trailing earnings.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
About Apple Inc. (AAPL)
Apple designs and sells consumer electronics: the iPhone, Mac, iPad and Apple Watch. It also runs a fast-growing services business spanning the App Store, iCloud and Apple Pay.
The Information Technology sector covers hardware, software and semiconductor companies driving the digital economy.
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