bwik
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Apple's $62.9 billion stock buyback program called a bad investment in new report
Without addressing the elementary basic definition of stock buybacks, I will say that it is entirely possible to make hundreds of billions of dollars disappear if you do big stock buybacks at high prices before share prices fall. For example, GE used to be worth 600 billion dollars, now worth about 70. So over 500 billion dollars in market cap was lost, or around 90% of value disappeared. IF they sank $200 billion into stock buybacks during the max share price period, then $180 billion of that money simply disappears. There are not many ways to make 180 billion in cold hard cash just disappear, but share buybacks at this scale is one of the ways.
I don't think AAPL will fall 90%, but any steward of say $200 billion needs to think about that. They had US dollars and they decided to vastly increase the risk of that asset by investing it in Apple stock at a very high price.
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Apple to build $1B campus in Austin, increase employment nationwide
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Apple ceases iOS 10.3.3 and iOS 11 code signing following iOS 11.0.2 update
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Apple CEO Tim Cook says globalization is 'great for the world' in China speech
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New Chinese cybersecurity law will force Apple to keep data on local servers, aid gov't. searches