Apple is expected to add up to $100 billion to its stock buyback program
Two analysts Wednesday said the company is likely to add up to $100 billion to its buyback authorization next week. Apple AAPL, +3.26% has historically made updates to its capital-return program in conjunction with its March-quarter earnings report.
The company “will likely announce an authorization for $75 billion to $100 billion in buybacks” and a 4% to 7% dividend increase, Evercore ISI analyst Amit Daryanani wrote in a note to clients. He called this “a logical decision given how attractive the current stock price is.”He expects the company will keep its skew toward buybacks given that its large market value makes it difficult for Apple to offer an overly attractive yield.
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