Apple announces $110 billion buyback, increasing market value by $200 billion
2024-05-02 21:19:23
On May 3rd, Apple (AAPL. O) released its second fiscal quarter earnings report in the early morning of Friday, Beijing time, showing that the company's total revenue and revenue in Greater China exceeded expectations, and announced a stock repurchase plan of 110 billion US dollars and an increase in quarterly dividends, while the market expected the repurchase amount to be 90 billion US dollars. The reason why Apple was able to implement such a large-scale repurchase is because the company's free cash flow has been leading the market in the past 12 months. Before the announcement of the financial report, Apple's cash flow level was about 107 billion US dollars. Apple's US stock price rose to 7.7% after-hours. If the increase is maintained until the opening of the market on May 3, the corresponding market value will increase by more than 200 billion US dollars.
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