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  • Apple Repurchased 36 Million Shares Last Quarter

    More details about Apple's financial performance for the June quarter continue to emerge as analysts and journalists take time to fully digest and make sense of the data Apple provided to the investment community this past Tuesday.

    According to the latest tidbits, Apple spent a staggering $16 billion last quarter to repurchase its own shares.

    "By my calculation," Philip Elmer-DeWitt of Forbes deduces, "the company spent $16 billion last quarter ($4 billion in cash, $12 billion through the so-called accelerated share repurchase program) to purchase 36 million of its own shares at an average price of just over $444.

    Putting that amount of cash into perspective, Apple could have used those funds to buy Nokia. Or, it could have even bought BlackBerry... three times.

    Apple's investment in itself is a strong show of confidence to the public and the broad investment community, analysts argue. "One way to think of it," Asymco's Horace Dediu says, "is this is Apple's greatest acquisition ever."

    Source: Fortune
    This article was originally published in forum thread: Apple Repurchased 36 Million Shares Last Quarter started by Michael Essany View original post
    Comments 4 Comments
    1. buggsy2's Avatar
      buggsy2 -
      Can someone explain how $12B worth of shares can be bought without cash?
    1. iM1sf1t's Avatar
      iM1sf1t -
      Quote Originally Posted by buggsy2 View Post
      Can someone explain how $12B worth of shares can be bought without cash?
      They spent 16 billion... Spent 4 in cash on whatever and spent the other 12 buying back shares... Or it was one big margin buy...
    1. steve-z17's Avatar
      steve-z17 -
      Best investment they could make! Apple just keeps cruising forward with big profits!
    1. bigboyz's Avatar
      bigboyz -
      I am happy Apple is doing well. Means they will be around to make more great products.