Apple Stock Buyback Tops $20B In Second Quarter

Apple Inc. has been in buy-back mode ever since President Donald Trump signed his tax bill into law. But the size of the Cupertino, California-based company’s share repurchase program is massive, with estimates put the buy-back at $21 in the second quarter alone. That’s according to an analysis by S&P Dow Jones Indices. Analyst Howard Silverblatt told Barron’s that Apple likely repurchased $20.7 billion in stock during the June quarter. He cautioned the sum is an estimate, not a final number. What Silverblatt does know is that Apple’s actions in the second quarter will amount to it being the second-largest quarterly buyback among S&P 500 companies. The first one goes to Apple as well. In the first quarter, it repurchased $22.8 billion in shares.