Apple announces largest-ever $110 billion share buyback as iPhone sales drop 10%

Amit Daryanani, Evercore ISI senior managing director, Angelo Zino, CFRA Research senior equity analyst, and CNBC's Steve Kovach join 'Closing Bell Overtime' with Apple quarterly results.

[ChimpRevolution]

Tim cook knows how to pump a stock. If any other company posted the earnings apple did with there main segment declining it would be in shambles instead tim cook gets preferential treatment. Also a horrible long term decision to spend $110 billion when you could up R&D to re accelerate growth or even get treasurys at like 5% generating over $5 billion of interest income

[mitz]

Due to no call recording feature apple makes its users feel less empowered and hinders users personal growth to other phone users like Samsung etc. Unless it is featured, apple will loose to others like Sony Experia Motorola lost to Android. Stupid apple strategy. It won't work in this GenZ and sales will further fall. The only USP of iphones were its cameras but now many manufacturers have caught up to that standards. RIP Apple Iphone btw I am also an iphone sufferer. ITS a data collection device from USA which also hinders its users personal growth and not anything more than this.

[frankxu]

So Sad, shameful and pathetic for Mr. Cook wasting company cash on shares buyback instead of investing in Real R&D and AI !!!

[vicentevicensmarco]

$110 billion share buyback with revenue declining on core segment (iPhone) and company overvalued close to ath that shouldn't be taken as a good news at all! they should spend that money on R&D and get better products out and accelarate on IA otherwise is a dead company which is being launching the same products since Steve Jobs passed away! another magnificient stock which will drop off the list if things don't turn around soon.

[lppoqql]

Sometimes people do buy backs because they know their stock will go down in the near future, giving certain people the last chance to cash out.

[kyaghleah]

Thanks. 👍 I was just at an education conference. Several educators were praising Apple for their efforts to support teachers and students. 👍👍

[hornet]

AAPL should have distributed $110B to shareholders as a payout. They deserve it.

[mukamuka]

It's the best indicate that Apple has no idea what else to do with that pile of money. They have no other big product in the pipe line

[indiekiduk]

If you listen to the call Tim says iPhone sales only down 0.8% which he called "flat".