Apple (AAPL) bought back $77.55 billion of common stock during FY 2023
A significant portion of Apple financing expenses were spent on common stock buybacks throughout its 2023 fiscal year.
Apple has posted its Q4 2023 earnings results and its full-year results for the 2023 fiscal year. There were a lot of interesting stats to come out of the company’s results, but one eye-opening (or perhaps eye-watering) stat about common stock buybacks stood out heavily on the balance sheet. Apple bought back $77.55 billion USD worth of common stock over the course of its fiscal 2023.
Apple posted about its full-year fiscal financing expenses in its Q4 2023 earnings results, which included details about its expenses in investments and financing. There, under Financing Activities, it is shared that Apple spent $77.55 billion USD on “Repurchases of common stock” throughout its fiscal 2023. While this was down from the $89.40 billion spent on stock repurchases throughout Apple’s 2022 fiscal year, it’s also worth noting that Apple’s Net Income was $96.99 billion overall.
Source: Apple
Apple’s investment in stock repurchases comes in a quarter and full-year report where the company had slower growth than usual. The company still put up revenue and earnings-per-share beats against expectations on Q4 2023. However, iPhone sales on the quarter where it had just released the new iPhone 15 were only up 2.78 percent from Q4 2022 to Q4 2023. Moreover, iPhone sales for the entire fiscal 2023 were actually down a bit from 2022.
Apple is still one of the most profitable companies in the world, so it’s not nearly in any kind of danger. However, with the company’s growth seemingly slowing and continued spending on common stock buybacks, it will be interesting to see where Apple goes from here in its fiscal 2024. Stay tuned for more coverage on Apple and other tech companies reporting earnings results, right here at Shacknews.
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replyTJ Denzer posted a new article, Apple (AAPL) bought back $77.55 billion of common stock during FY 2023
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How many twitters is that?
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6.458333 twitters, assuming twitter is worth 12 billion right now.
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For the employees, right?
Right, Anakin?? -
Holy shit, lol. We desperately need to tax the rich and corporations.
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Still waiting for that trickle down to hit my face
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As long as you are in the office reading it we are fine with this. On break of course.
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You won't get the change in behavior you want by increasing tax rates. That would probably make the problem worse by encouraging corps to pay out more money in buybacks to avoid paying money in taxes instead.
They should change liquidity preference rules to get rid of the implicit beneficial treatment of a stock buyback's long term capital gains for long term equity holders vs cash dividends-
this was way over my head so I'll just nod and grunt in agreement
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WOW. What a colossal waste of money for the sake of shareholders. Imagine if they gave that to charities instead. They'd get what, a 30B tax break ?
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weird wonder who was president then and if they did other things that still have negative impacts today
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Carter deserved better.
(Video with sound)
https://i.imgur.com/vDcMzRJ.mp4
Holy shit. If there really was a backdoor deal putting American lives at risk to help Reagan get elected. This also would have thrown off the global geopolitics.
Source: https://youtu.be/f12IQiV2oxU -
Yep.
You can make the case for Trump and Bush 2, but I personally think Reagan takes the cake as the worst administration in modern history. The effects of his policies laid the groundwork for everything that's gone horribly, fundamentally wrong in this country for decades, from policing and crime to the economy. What he and his let loose in America is a direct line to the massive inequality today and all the fallout from said inequality, from the deleterious effects of such absurd wealth on the climate to the stranglehold that fossil fuels have had on the nation and, in turn, the oil-hunger that has been the impetus for regime-toppling wars all around the world.-
Reagan was especially insidious because he did everything with a Hollywood smile and gentle language, moreso than Bush Jr even. He was *adored* by white voters.
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