US tech giant Apple(AAPL) is the most valuable company in the world. Currently Apple has a market capitalization of $2.50 Trillion. On Tuesday the company has scheduled its latest hardware unveiling event. Some investors are hoping the upgrades to iPhone and other products would help propel the market cap to $3.0 Trillion soon.
Apple is one of the top companies to buy back its own shares. According to a journal article this weekend, over the past decade has bought back $442 billion of its shares. The current total outstanding stock count is 16.5 billion. Over the past 5 years, outstanding shares have decreased consistently from over 21.0 billion to the current 16.5 billion. This is due in part stock buybacks.
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Source: YCharts
On Friday Apple closed at $148.97 and has a current dividend yield of 0.59% or $0.88 per year.
To put Apple’s market cap in perspective, the GDP of the US in 2021 is estimated to be around $22.7 Trillion.
In the past 5 years, the stock has shot up by over 418% excluding dividends:
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Source: Google Finance
Disclosure: No Positions
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