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Apple has plowed over $500 billion into stock buybacks since 2012 — more than Visa, JPMorgan, or Exxon are worth
(markets.businessinsider.com)
this post was submitted on 12 Aug 2023
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This should be illegal.
What should? Stock buybacks? Why?
It's usually done to basically pay to increase companies own stock price. They often do it because CEO and executive pay is based on achieving certain goals such as stock price. However, every penny thrown at investors in a buy back is money that could have been used to weather a downturn, or increase employee pay or simply reinvested in the company itself. This often leads to companies then requiring government bailouts to continue functioning when say a global pandemic hits. The Plain Bagel has more detailed video on the ups and downs of stock buybacks on YouTube.
I don't think this applies here. Apple running out of cash isn't really a risk right now.