What Apple Can Learn From Warren Buffett
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April 26 (Bloomberg) -- Give credit to Apple Inc. and itschief executive officer, Tim Cook, for getting serious aboutreturning unneeded capital to shareholders. As for the details,some of them don’t seem well thought out.
The maker of iPhones and iPads this week said its boardapproved a sixfold increase in its stock-repurchase plan to $60billion. Not long ago, even discussing the idea of large sharebuybacks was a nonstarter for Apple. Now that its stock hastanked, the company is acting like they are a must-do, no matterwhat else the future might bring. At about $408 a share, down 42percent since its record high in September, Apple has a stock-market value of $383 billion.