Four Big Tech firms splurged over US$1 trillion on stock buybacks in 10 years, S&P Global data shows, as noted by Business Insider.
Apple spent an unmatched $621 billion on its own stock in the 10 years to March 31. Google-parent Alphabet ranked second with $193 billion of share repurchases over the same period. Microsoft and Meta Platforms splurged $180 billion and $130 billion respectively, the S&P Global data shows.
The tech quartet have collectively poured $1.1 trillion into buybacks since early 2013, more than the market value of Tesla ($805 billion), Berkshire Hathaway ($781 billion), or Meta ($767 billion). Their 10-year outlay also rivals Nvidia’s current market capitalization of $1.2 trillion.
As noted by Business Insider, Warren Buffett is famously a big fan of buybacks, if a company has plenty of cash to cover its operational and liquidity needs, and its stock is trading at a material discount to its intrinsic value. He’s touted them as good for stockholders and stock sellers, safer than acquisitions, more efficient than dividends, and a way for executives to show they care about shareholder returns.
Buffett’s Berkshire has seen its Apple stake grow to nearly 6% in recent years without it having to spend a penny, thanks to the iPhone maker’s buybacks.
