| Cult of Mac

Apple pours billions more into controversial stock buybacks

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France fines Apple $27 million for intention iPhone 'throttling' controversy
Apple spent more on its own shares in Q1 than any company ever before in a single quarter.
Photo illustration: Ste Smith/Cult of Mac

Apple’s stock buybacks in Q1 totaled more than any other S&P 500 company by a wide margin. The iPhone maker poured $23.8 billion into purchasing its own shares, more than it has ever done before. And that’s saying a lot, as Apple been spending billions on buybacks for many years.

Apple is raising $17 billion in debt for expanded buyback program

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$1 trillion value
Apple is heading toward a $1 trillion market cap. But could Amazon get there first?
Photo: Pierre Marcel/Flickr CC

Wall Street is lining up to stuff its pockets with cash from Apple’s money printing empire, but rather than dipping into its massive offshore cash pile to pay for its expanded buyback program, Apple is once again planning to raise an enormous amount of debt to pay off  investors.

Carl Icahn Is A ‘Johnny Come Lately,’ Says Apple Investor

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Credit: Tactus.com
Credit: Tactus.com

Would Carl Icahn’s memoirs be titled How To Lose Friends And Influence People?

Activist investor Icahn has been proving divisive in recent months by spearheading a campaign to get Apple to carry out a $150 billion stock buyback (which he later dropped to “just” $50 billion).

Well, it’s difficult to be as outspoken as Icahn without certain other investors speaking out about you — and that’s exactly what Anne Simpson, head of corporate governance at the California Public Employees’ Retirement System, has done.

Warren Buffett: Steve Jobs Asked My Advice On Apple’s Cash But Didn’t Take It

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Apple's update strategy saves a lot of money over maintaining Windows XP
Apple's update strategy saves a lot of money over maintaining Windows XP

There have been a lot of ideas suggested for what Apple could do with its nearly $100 billion in cash. Some have been serious suggestions like companies that Apple could buy while others are a little more absurd but illustrate just how much money Apple’s got.

Today, Warren Buffett revealed to viewers of CNBC’s Squawk Box that Steve Jobs wasn’t sure what to do with all the money Apple began raking in over recent years and asked for advice. He ultimately ignored that advice in his typical fashion while telling others that Buffett agreed with his decision for Apple to just sit on its money.