Apple Likely to Increase Stock Buyback Plan, According to Bernstein

Loading...
Loading...
Apple Inc.AAPL
will likely announce an increase in its stock buyback plan, according to Bernstein analyst Toni Sacconaghi. In a report published Wednesday, Sacconaghi commented that Apple could add $30 billion to current repurchase plans by the end of the 2015 calendar year. The additional $30 billion would have the company's share repurchases total $45 billion to $50 billion. Bernstein wrote, “If Apple does not raise the authorization, it would imply (about) $2 billion of repurchases per quarter vs. an average of nearly $8 billion per quarter over the past six quarters," he wrote. "If Apple adds $30 billion to its current repurchase authorization, it would imply (about) $6 billion per quarter over the next seven quarters.” Last year, Apple approved a $100 billion cash-return program. $60 billion of the total was announced to be in stock buybacks. Apple will report second quarter results after the close on April 23. Shares of Apple closed at $519.01 on Wednesday. The stock is currently up 1.0655 percent at $524.54.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorAnalyst RatingsBernstein ResearchToni Sacconaghi
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...