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No typo. A year ago they had authorized $140 billion, and had already repurchased more than $80 billion. https://www.apple.com/pr/library/2015/04/27Apple-Expa
by mbrubeck 10y ago
No typo. A year ago they had authorized $140 billion, and had already repurchased more than $80 billion.
https://www.apple.com/pr/library/2015/04/27Apple-Expands-Capital-Return-Program-to-200-Billion.html https://www.apple.com/pr/library/2015/04/27Apple-Expands-Cap...
($175 million would be less than three hundredths of one percent of Apple's market cap.)
- smitherfield 10y agoAh, thanks. Kind of a hard to parse sentence; I read it as buying back $175bn this quarter. Which would be 30% of their market cap and represent all their cash on hand.
- beezle 10y agoThey do not have that much cash on hand. Apple already has over $100B in common and exotic debt that has been used to pay for both dividends and this buy back program. So that pile of cash sitting overseas? On its way to being mostly spent. And if the Congress critters start pressing companies to repatriate, a big tax bill looms too.