Apple’s Huge Buybacks Matter as Much to Investors as iPhones and Macs
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One of the most important numbers in Apple Inc.'s upcoming earnings report has nothing to do with iPhones or Mac computers. It's the amount of money the technology giant plans to spend repurchasing its own shares.Speculating on the size of the outlay has become a sort of annual parlor game on Wall Street as Apple's capital return plans have emerged as one of the big draws for investors amid slowing revenue growth and economic uncertainty. For the year ahead, some analysts expect the Cupertino, California-based company to commit $90 billion to repurchases, the same as last year. Apple has historically reported its buyback plans in its fiscal second-quarter results, which are slated for May 4. For investors, the firm's buybacks have come to act as “a sign of their confidence in the...