Yeah. But a lot of that is Voodoo. The point is that generalizations about this, as with most other things, doesn't help in an individual situation. It isn't even correct in a number of ways.
Generally, share repurchasing is done to lift shares that are tottering, by supposedly showing that management has confidence that share prices will go higher in the future. Of course, in reality, is says no such thing. If management purchased those shares with their own money, THEN it would say something. But even then, management can be wrong, and often has been.
With Apple, it's different. While I'm against share repurchaseing in principle, Apple has done it for a reason that really isn't saying that their shares should be worth more, and so this is going to prove they mean it. They are buying simply to equalize out the share growth over the years. Is that needed? I really don't think so, but it's not the worst thing.
The problem with share repurchasing is that it throws money away. It's GONE! Nothing can be done with it. And for most companies doing it, it doesn't result in share price accumulation over the long term.
That's why I prefer a dividend, or a disbursement. The money is actually going somewhere. It isn't being burned.