Buybacks Still On at Apple, Alphabet With Tech Giants Flush
- The iPhone maker added $50 billion to its repurchase total
- Google said it bought back $8.5 billion in the first quarter
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Sentiment turned against share repurchases after the pandemic hit, sometimes violently so. Not at Alphabet Inc. or Apple Inc.
A day after Google’s parent said it bought back $8.5 billion of its own shares in the first quarter, the iPhone maker led by Tim Cook added $50 billion to its own program. The authorizations come as politicians all the way up to President Donald Trump have expressed unease with the practice at a time of worker hardship and cash shortages at some companies.