Cook reveals surprising $17B AAPL stock buyback in Q4

During its conference call to analysts, Apple CEO Tim Cook mentioned that the company had spent $17 billion in the fourth fiscal quarter on further stock buybacks, the largest amount since the March quarter and bringing the total spent across the fiscal year to $45 billion. About half of the money was spent buying shares on the open market rather than through banking partners, an unusual move for a large corporation. The stock came close to another record high on Tuesday, but has yet to crack its $110 all-time (adjusted for both splits and buybacks) share high….

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