#1 - Apple (NASDAQ:AAPL)
Apple Inc. (NASDAQ: AAPL) announced a $110 billion share buyback program when it delivered its first-quarter earnings in May 2024. At first glance, the size of the buyback is hard to overlook. But this isn’t Apple’s first rodeo when it comes to buying back its shares. In past programs, the company has authorized up to $90 billion. It’s also important to note that Apple hasn’t always repurchased the full amount of the buyback authorization.
Despite concerns about iPhone sales, particularly in China, analysts still believe Apple will grow earnings in the high single digits at around 8.8%. Earnings could go much higher if Apple successfully launches its artificial intelligence (AI) strategy as expected.
Apple’s latest 12-month buyback yield is 3.1%. The buyback yield is a ratio that measures the net repurchase of outstanding shares relative to the company’s market cap. Apple also offers a dividend that yields 0.54% and has been increasing for 12 consecutive years. The AAPL stock price has jumped 272% in the last five years.
About Apple
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
Read More - Current Price
- $254.49
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 24 Buy Ratings, 11 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $236.78 (7.0% Downside)
