It’s really interesting when you think about the things that tech companies from all around the world usually spend their money on. One thing that tech companies which are usually up on the stock market do, is known as buybacks, which is the process of buying stocks which have already been sold for one reason or another.
With this in mind, it seems like this year in the S&P 500, Apple went ahead and initiated buybacks of around $56 billion in total, which is a huge number from all the points of view when you think about it. Together with this, it is also worth pointing out that amount spent doing the same thing by the company which came in second this year- IBM, with only $19.2 billion, which means that Apple really went a bit over the line as an effort to gain as much profit as possible. However, this also showed that the company’s management was confident enough in the idea that things will go ahead as planned, which made it capable of making exact evaluations whenever it was needed.
The buyback program was started by Tim Cook in 2012 and it has definitely grown a lot in size ever since. With its immense profits, Apple also had the money to continue this program and earn even more in the long run.