The Wall Street Journal is reporting that Apple has repurchased $14 billion of its own stock within the past two weeks. The move means that Apple had bought back more than $40 billion of its shares over the past 12 months, which Cook called “a record for any company over a similar span.” In an interview Cook said that Apple was “surprised” by the 8 percent drop in AAPL share since it reported quarterly results on January 28, 2014. Cook said that Apple wanted to be “aggressive” and “opportunistic.”
Apple Inc. has bought $14 billion of its own shares in the two weeks since reporting financial results that disappointed Wall Street, Chief Executive Tim Cook said in an interview. Mr. Cook said Apple was “surprised” by the 8% decline in its shares on Jan. 28, the day after it reported lower iPhone sales than projected and warned that revenue in the current quarter might decline from the same period a year ago. Mr. Cook said he wanted to be “aggressive” and “opportunistic.” With the latest purchases, Mr. Cook said Apple had bought back more than $40 billion of its shares over the past 12 months, which Mr. Cook said was a record for any company over a similar span.
