Apple now more valuable than Google, Amazon, Tesla, and Walmart combined
Tuesday December 13, 2022. 10:39 PM , from Mac Daily News
While many other companies like Facebook-parent Meta Platforms have declined as much as 70%, Apple has hardly hit bear market territory from its all-time highs. In fact, Apple is now more valuable than Google, Amazon, Tesla, and Walmart combined.
Caleb Naysmith for Benzinga:
So, what is Apple doing differently? Apple isn’t putting up massive earnings numbers, but it’s hitting expectations or only posting minor misses.
MacDailyNews Take: Apple is putting up massive earnings numbers.
But more important might be its massive share buyback program. Apple bought back almost $90 billion worth of its shares in fiscal 2022. Apple has spent over $550 billion in stock buybacks since the program began in fiscal 2013. This compares to Amazon’s $0 spent on buybacks and only about $15 billion for Google.
But maybe the tides are shifting. Google recently announced a share buyback program of nearly $70 billion for 2023 after seeing the success of Apple’s program. Meanwhile, some estimate Apple’s buybacks will slow as the dividends continue to increase, share buybacks become increasingly expensive, and profits potentially decrease because of the recession.
MacDailyNews Take: In April, after announcing yet another quarter of all-time record revenue, Apple’s board of directors declared a cash dividend of $0.23 per share of the company’s common stock, an increase of 5 percent. The board also authorized an increase of $90 billion to the existing share repurchase program.
Apple’s current market value is $2.314 trillion and you haven’t seen anything yet. Imagine a future Apple Inc. with a dynamic, charismatic, visionary CEO once again. It can happen!
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