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Apple To Launch Largest Stock Repurchasing Plan In History
An anonymous reader writes "In conjunction with its earnings report for the second quarter of 2013, Apple issued a press release announcing some major plans for its ever growing stockpile of cash. It is increasing its quarterly dividend payout to investors by 15%. What's more, the company will spend $60 billion in stock repurchases, making it in Apple's words, 'the largest single share repurchase authorization in history.'"
Oh my. Here we go again. Apple is going out of business now like Microsoft was suppose to be for the last 15 years?
If I've learned anything here I've learned that the average "geek"* doesn't have the first clue about business.
* I use that term loosely anymore. The geek element certainly has waned over the last few years. I blame KDawson.
No. No they do not.
This is the biggest lie ever told to the American public, and anyone telling you this should never be trusted. (Yes. This is a large list.)
Companies exist to promote commerce, create useful goods, and provide a livelihood for their employees. Owners and stock holders are allowed (This is a revokable privilege, not a right) to make money to provide incentive to facilitate the above functions. Anything less is a criminal enterprise.
When we deviated so far in to the "making money" and "shareholder value" ideas is the day this country started to fall apart.
This is not an argument. This is advice. Ignore it at your own peril, America.
Stick to your roots guys, this isn't a stock forum and 99% of the people here clearly don't know one blessed thing about investing, how companies work, or even what these big numbers actually mean.
Actually its worse then that, but I'm being politic.
-Matt