Apple’s massive, record-breaking $226.6 billion stock buyback is credited with helping drive the longest-running bull market in U.S. stock market history.
A bull market refers to a market in which share prices are rising, thereby encouraging buying. A new report credits eight companies — including Apple — who have engaged in massive share buybacks as being part-responsible for this 9.5-year bull run. Together, they have formed, “a solid backbone of the stock market’s continued growth.”