Last year, after the 4 for 1 stock split, AAPL had 17.5B shares outstanding. I just looking at Yahoo's stock statistics for AAPL and currently, they have 16.4B (that figure seems consistent with the information on other financial websites, but do your own DD). If that's accurate, that means stock buybacks have resulted in over 1B shares being taken out of the market. Not saying it could ever happen, but if they keep going at that rate, they can take the company private in 16 years. Of course, the later shares they repurchase will be significantly more expensive because of the reduced number of shares outstanding. But just think of what effect this can have on the PE ratio. I'll be back in another 4 years to let you guys know where they stand then.$Apple(AAPL)$
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