According to a new Money GPS video presentation, a recent article shows that APPLE purchased $23.5 BILLION of its own stock in the first quarter of 2018. "A RECORD AMOUNT FOR ANY US COMPANY."
The article also says that, "The amount that Apple spent buying its shares in those three months exceeded the stock market value of most companies in the S&P 500 index, including household names like Kroger., Best Buy and Hershey."
I believe, years ago, stock buybacks were not even legal, because that would "artificially" increase the value (or price) of the stock (perhaps it was considered price manipulation). So this kind of buyback in a company's own stock just seems INSANE!
The Money GPS video talks about other financially-important stories, including one in which one Egyptian billionaire is buying $5.7 BILLION worth of GOLD! Which is said to be half of his net worth!
You can view the complete Money GPS video here:
