Apple is preparing to return billions more in cash to shareholders through expanded capital allocation programs, including share buybacks. The company, now valued at approximately $4 trillion, has been one of the most effective tech firms at using buybacks to grow earnings per share. Alphabet has similarly ranked among Big Tech's most efficient deployers of buyback capital.
Aggressive buybacks reduce the number of shares outstanding, which mechanically boosts earnings per share — making the stock look cheaper and more attractive even if underlying profits don't change. For investors already holding AAPL, this acts as a steady tailwind. It also signals management's confidence that the stock is worth buying at current valuations near all-time highs.
May 2025: Apple Q2 earnings call — exact buyback authorization size expected to be announced. Watch for any update to the annual capital return program, which Apple typically refreshes each spring alongside earnings.
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