This can't be correct. If so, then the value of all of the shares repurchased before the final one would have to be zero. Repurchased shares don't vanish. They are still shares of ownership. All that happens when a company buys its own shares is that the company owns them. The total number of shares remains the same. If Apple bought every share of AAPL today except one, that last remaining share would still be worth $388.
11/15/11 at 11:18am