Apple has bought back $588 billion of shares over the past 10 years, making it worth more than 492 companies in the S & P 500s

CTOnews.com August 12 news, according to Business Insider reported that Apple since 2012, in the past 10 years has bought back 588 billion US dollars (CTOnews.com note: currently about 4.25 trillion yuan) of shares, higher than the S & P 500 index 492 companies market value.

Apple spent more on stock buybacks than Visa ($489 billion), JPMorgan Chase ($446 billion) or Exxon Mobil ($441 billion).

As of now, only eight companies in the S & P 500 have market capitalizations that exceed Apple's share buybacks.

The report says Apple has spent more than $50 billion a year since 2018 (currently about 361.5 billion yuan) buying its own shares.

It spent $90 billion on buybacks in the last fiscal year and bought back $56 billion worth of shares in the past nine months alone.

Apple recently approved another $90 billion in buybacks, more than citigroup's total value ($85 billion) and almost twice hershey's market cap ($46 billion).