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Apple Beat Its Own Record With A Blockbuster Buyback [1]

['Mrinalini Krishna', 'Learn About Our', 'Editorial Policies']

Date: 2024-08

Key Takeaways Apple's $110 billion stock buyback announcement is the largest stock buyback program in recent history, beating its own record set in 2018.

The tech giant is responsible for the top five share repurchases by U.S. companies and ties with Chevron for the sixth spot.

Buybacks by tech rivals Meta, Google-parent Alphabet and Microsoft don't even come close.

Apple Inc. (AAPL)’s $110 billion stock buyback announcement is the largest stock buyback program in recent history, beating its own record set in 2018.

The tech giant has made such dominant share repurchases that no other U.S. company has broken into the top five, and it ties with Chevron (CVX) for the sixth spot, according to data compiled by Birinyi Associates.

Buybacks for rivals don’t even compare. Meta Platforms’ (META) highest is $50 billion from earlier this year, while Google-parent Alphabet’s (GOOGL) peaks at $70 billion announced last week. Microsoft’s (MSFT) $60 billion share buyback announced in 2021 was its largest.

Apple shares were up over 7% on Friday, trading at $185.2 at 2:50 p.m. Eastern.

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[1] Url: https://www.investopedia.com/apple-beat-its-own-record-with-blockbuster-buyback-plan-8643249

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