Apple’s Huge Buybacks Matter as Much to Investors as iPhones and Macs

One of the most important numbers in Apple Inc.’s upcoming earnings report has nothing to do with iPhones or Mac computers. It’s the amount of money the technology giant plans to spend repurchasing its own shares.

Speculating on the size of the outlay has become a sort of annual parlor game on Wall Street as Apple’s capital return plans have emerged as one of the big draws for investors amid slowing revenue growth and economic uncertainty.