Undaunted in the face of dwindling share prices, Apple tonight stepped forward to announce its repurchase of $14 billion in shares of AAPL.
This move comes as a formidable show of conviction and optimism in response to investor concerns about the stock skid that has plagued Apple since late 2012.
The bold powerplay was confirmed to The Wall Street Journal by Apple CEO Tim Cook on Thursday.
Mr. Cook said Apple was "surprised" by the 8% decline in its shares on Jan. 28, the day after it reported quarterly results, and wanted to be "aggressive" and "opportunistic."
The move is expected to be especially pleasing to billionaire investor Carl Icahn, who has publicly pressured Apple for months to use its vast cash reserves to buy more shares of AAPL.