Apple has announced a return to growth in the current quarter, which has caused a significant increase in their share price on the secondary market. The company revealed plans for a record-breaking share buyback program worth $110 billion, or approximately 102 billion euros.
Despite a decrease in quarterly revenue compared to the previous year, Apple’s earnings per share exceeded analyst forecasts. The company remains optimistic about future growth prospects and raised its quarterly dividend for the twelfth consecutive year.
The technology giant surpasses its previous record of the largest share buyback program by a listed company in the United States with this new buyback program. Analysts and experts speculate that Apple’s shift towards a value company that prioritizes shareholder returns over growth initiatives like research and development may be behind the record-breaking buyback program. Share buybacks typically increase the value of remaining shares, benefitting shareholders and increasing the company’s overall value.
Apple’s stock rose by up to 7.9% in aftermarket trading following the announcement, signaling renewed investor confidence in the company’s future performance. If this trend continues, Apple’s market value could increase by over $190 billion. Overall, the news of Apple’s return to growth and the record-breaking share buyback program have positioned the tech giant favorably in the market, despite a recent decline in share price earlier in the year. Analysts and investors are closely watching Apple’s performance, anticipating further positive developments from