Apple's Buyback Bonanza

Apple (NASDAQ: AAPL  ) released its quarterly earnings yesterday after market close, and investors are celebrating today. Revenue came in at $35.3 billion with earnings per share of $7.47. The King of Cupertino also spent $16 billion on share buybacks. That's an encouraging sign for Apple investors, but Motley Fool analyst Matt Koppenheffer argues the real catalyst will come when Apple debuts the next big iDevice.

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  • Report this Comment On July 24, 2013, at 3:23 PM, GaryDMN wrote:

    I'm surprised they only bought back $16 billion in stock. I had assumed they would be buying at a $6+ billion per month pace.

  • Report this Comment On July 24, 2013, at 4:03 PM, AceOfSaves wrote:

    @GaryDMN

    I believe $6+ billion per month would be too fast. They authorized $60 billion for buybacks with the year 2015 as their target completion date.

    At the rate of $6+ billion per month, the buyback would be completed in early- to mid-2014, way ahead of their target date.

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