Apple has spent over $500 billion on stock buybacks since 2012, a Markets Insider analysis shows. Only eight S&P 500 companies are worth more than the tech giant’s total repurchases to date, according to Business Insider.
Apple has spent more on repurchases since 2012 than the entire market capitalization of Visa ($489 billion), JPMorgan ($446 billion), or Exxon Mobil ($441 billion), the article adds. The company has spent north of $50 billion a year buying its own stock since 2018.
Business Insider says it splurged $90 billion on buybacks in its last financial year, and has repurchased $56 billion worth of its shares in the last nine months alone. What’s more, Apple’s board recently approved another $90 billion of repurchases. That amount exceeds the total worth of Citigroup ($85 billion), and is nearly double the market value of Hershey’s ($46 billion).
Article provided with permission from AppleWorld.Today