As the earnings season comes to a close, many investors should feel pleased with this quarter’s results.
Market sentiment appears positive, with more than half of the “Magnificent Seven” delivering another round of positive results.
However, one key piece of information may have dropped off investors’ radar.
Two of the Magnificent Seven, Apple (NASDAQ: AAPL) and Alphabet (NASDAQ: GOOGL), have extended their share buyback programmes.
Notably, Apple’s share buyback programme, valued at US$110 billion, is set to be the largest in US corporate history.
Apple and Alphabet are not alone in their strategy to repurchase shares.
Earlier this year, fellow tech juggernaut Meta Platforms (NASDAQ: META) also declared a US$50 billion share repurchase initiative.
Why do companies engage in share buybacks?
Companies repurchase their own shares for various reasons.
More often than not, the most common reason cited is to reward their shareholders.
For example, semiconductor giant Lam Research (NASDAQ: LRCX) recently authorised a US $10 billion share repurchase scheme....
