Apple’s Buyback: A Perfectly Reasonable Obsession?

So, everybody’s fawning over Nvidia, right? “Oh, Nvidia, the AI pioneers!” It’s exhausting. Honestly, Apple did the whole “being ridiculously valuable” thing first. First to a trillion, then two, then three. It’s not about being first, it’s about consistency. But nobody wants to acknowledge that. It’s always about the new thing. The shiny object. Drives me crazy.

Anyway, Apple’s been quietly – and I use that term loosely, because $841 billion isn’t exactly quiet – buying back its own stock. Enough to, theoretically, buy almost 500 other companies in the S&P 500. It’s…a commitment. A very large commitment. And people are acting like it’s just…normal. Like companies routinely have that kind of money lying around. It’s unsettling. It really is.

Unearthing Apple’s…Well, It’s Complicated

The thing is, this isn’t about some grand technological leap. No AI, no data centers, no fancy new gadgets. It’s just…shareholders. Rewarding shareholders. Which, fine. I guess. But it feels…circular. Like a dog chasing its tail. They make money, they give money back to themselves. It’s not progress. It’s…maintenance. And a very expensive form of maintenance at that.

Here’s the breakdown, because apparently, I need to explain everything. Since 2013, they’ve been on a buyback spree. Look at these numbers:

2013: $22.95 billion
2014: $45 billion
2015: $35.253 billion
2016: $29.722 billion
2017: $32.9 billion
2018: $72.738 billion
2019: $66.897 billion
2020: $72.358 billion
2021: $85.971 billion
2022: $89.402 billion
2023: $77.55 billion
2024: $94.949 billion
2025: $90.711 billion
2026 (through fiscal Q1): $24.701 billion

They’ve reduced the share count by nearly 44.3%. Which, theoretically, boosts earnings per share. But at what cost? It’s like rearranging the furniture on the Titanic. It looks better, but it doesn’t change the fact that you’re still heading towards an iceberg.

Is This Just a Distraction?

Look, Apple’s stock has done well. Nobody’s arguing that. But is it because of these buybacks, or in spite of them? Sales growth has stalled. The iPhone isn’t the revolutionary device it once was. They’re relying more and more on services revenue, which is fine, but it’s not the same as creating something genuinely new. It’s…predictable. And predictability, frankly, is terrifying in the tech world.

And the valuation? Forget about it. A price-to-earnings ratio of 33? A decade ago, they traded at 10 to 15. They’re pricing in a lot of future growth that…well, I’m not seeing. It’s like they’re betting on a miracle. And I don’t like relying on miracles. I like facts. And the facts are…concerning.

They’ve done a smart thing enhancing shareholder value, and it’s clearly worked. But it doesn’t mask the fact that the stock is expensive, and growth is…uneven. It’s like putting a fresh coat of paint on a dilapidated building. It looks better, but the foundation is still crumbling. And that, my friends, is what keeps me up at night.

2026-03-09 14:44

Unearthing Apple’s…Well, It’s Complicated

Is This Just a Distraction?

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