Shulou(Shulou.com)11/24 Report--

CTOnews.com, May 5 (Xinhua)-- one year later, Apple announced a new round of share buybacks involving $90 billion (CTOnews.com Note: about 621.9 billion yuan) in addition to its results for the second quarter of 2023.

Apple's board of directors has authorized the repurchase of up to $90 billion of Apple common stock. Stock buyback refers to the behavior that listed companies use cash and other means to buy back a certain amount of shares issued by the company from the stock market. The company may cancel the repurchased shares after the completion of the share repurchase.

"given our confidence in the future of Apple and the value we see in the stock, our board has approved an additional $90 billion for share buybacks," said Luca Maestri, Apple's chief financial officer.

Since 2012, Apple has launched a regular share buyback program. From 2012 to the end of 2022, Apple spent more than $572 billion on its share buyback program.

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