Question

Did Apple repurchase its stock in the last accounting year?

Answer 1

Answer:

Yes, Apple repurchased its stocks in 2019. Apple's accounting year starts from October and end to September.

Share repurchase- It is a corporate action when company buys back its own shares from the stock market, company does it so as to boost the share price. If company's share price is not doing well in the market, it repurchases its own shares to increase the per share price so that shareholders' wealth may increase.

Apple's Buyback program was launched in 2012. Board of directors authorized $385 Billion for Apple's buyback program in 2019 and it spend $67 Billion in repurchasing shares in 2019. Apple has been repurchasing it shares aggressively since 2012.

In past five years, Apple's market capitalization has risen by 79% and share price has soared 137% in these five years, it is due to share repurchase program.