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Apple's recent financial history showcases extensive investment in stock buybacks. Since 2013, Apple has spent approximately $725 billion on its buyback program, a figure that underscores the company's strategy to enhance shareholder value. Not only does this practice bolster EPS, but it also signals to the market that Apple believes its stock is fairly valued.
Over the years, Apple’s buyback figures have shown a consistent upward trajectory, with plans for nearly $100 billion allocated for buybacks in 2024 alone. This trend is common among other large companies within the S&P 500, where buybacks are a significant contributor to stock price appreciation.