According to Business Insider, Apple has spent more than $500 billion on stock buybacks since 2012. Such an impressive scale of repurchase activity is only matched by eight companies belonging to the S&P 500 index, whose total valuation surpasses Apple's buyback amount. Warren Buffett, the legendary investor often referred to as the Oracle of Omaha, has been one of the main beneficiaries of Apple's stock repurchases. With each buyback procedure, Buffett’s ownership in the IT giant is boosted at no cost to the investor. The amount spent on repurchasing shares exceeds the entire market capitalization of global giants like Visa ($489 billion), JPMorgan ($446 billion), and Exxon Mobil ($441 billion). Since 2018, the technology titan has splurged over $50 billion on buying its own stock. In its last financial year, the company allocated $90 billion for buybacks and repurchased $56 billion worth of its shares in the last nine months. Further, the company has also approved an additional share repurchase of $90 billion for this year.
