Apple Unveiled a Historic $110 Billion Stock Buyback, but Is It the Right Move?
Shares of (NASDAQ: AAPL) climbed higher after the iPhone maker announced a huge $110 billion share repurchase program in conjunction with its fiscal second-quarter earnings report. While the stock popped on the news, the question is whether this is the best use of cash for Apple investors over the long run.
Let's look at the company's quarterly results and its buyback plans.
The most recent quarterly results featured a 4% decline in sales to $90.8 billion.
Source Fool.com
Apple Inc. Stock
€177.24
0.370%
Currently there is a rather positive sentiment for Apple Inc. with 80 Buy predictions and 5 Sell predictions.
With a target price of 200 € there is a slightly positive potential of 12.84% for Apple Inc. compared to the current price of 177.24 €.
