Big Tech
Apple’s $110 Billion Stock Buyback Plan Is Largest in US History
- Shares rose as much as 7.9% in after-hours trading on Thursday
- The company also forecast sales growth in the current quarter
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In a move fitting for one of the largest companies in the world, Apple Inc. just announced the biggest US buyback ever, saying its board approved an additional $110 billion in share repurchases.
With the announcement, the maker of iPhones tops its own record for largest buyback value announced in the US. In 2018, the tech giant authorized $100 billion in share repurchases, according to data compiled by market research firm Birinyi Associates that goes back to 1999.