Apple Spent $20B On Strategy That Cost Shareholders 16% Over Past 5 Years


Apple announced historic quarterly results this week: record revenue of $91.8 billion, and record net income of $22.2 billion.

Apple also announced that it spent $20 billion on a strategy that is provably bad for shareholder value.

This past quarter the company “returned” nearly $25 billion to shareholders, Apple CFO Luca Maestri said. That includes $3.5 billion in dividends and equivalents, and a whopping $20 billion in share repurchasing. Apple’s stated goal is to reach a “net cash neutral position over time,” he said, meaning the company’s massive quarter trillion dollars worth of cash on hand all has to go.

Get the full story in my post at Forbes …