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Apple Trying To Gain Back Control With Share Buy–Back
Apple Inc. is apparently trying to buy back its own company from its shareholders.
Within two weeks of announcing its earnings for its first fiscal quarter of 2014, Apple reportedly bought back US$ 14 Billion worth of its own shares. As expected the share market reacted sharply and negatively to these events.
Though this amount seems to be on the higher side, Apple has evidently being indulging in such buy–backs for quite some time. Current CEO Tim Cook revealed that with this latest buy–back, Apple has successfully re–procured more than US$ 40 Billion worth of its own shares. If that’s not astounding, the company has concrete plans to repurchase a total of US$ 60 Billion worth of shares!
Why is Apple involved in such activities? Apple’s growth has been phenomenal over the past couple of years. Though Apple’s flagship device, the iPhone’s all earlier iterations were immensely popular, the company’s relentless pursuit to amaze the world by infusing cutting–edge and next generation hardware into a very sleek encasing hasn’t diminished.
However, the latest iteration; the iPhone 5S hasn’t met with the euphoric welcome that Apple is usually accustomed to. Owing to the ever growing competition by Google’s Android and Smartphones that run atop it, Apple’s popularity has taken a hit. While Android’s lead in the Mobile Operating Systems is undeniable as well as impossible to beat in the near future, quite recently, Apple’s core markets too, were being captured by the OS whose updates are named after confectionaries.
Apple’s latest financial results were not that impressive, but the lower than expected figures could be attributed to the fact that Apple bought 21 companies over the past 15 months. Notwithstanding, the share market slid Apple’s Shares by more than 8%. Taking advantage of the same, Tim Cook wants the world to know that Apple as a company is “Aggressive and Opportunistic”.
Source | TheNextWeb
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Source: http://www.watblog.com/2014/02/07/apple-trying-to-gain-back-control-with-share-buy-back/
