Some of us that watch the Stock Market were waiting for Apple's share price to go further and further below $500, maybe back to $400, and then all of a sudden the stock price starts to go up. About $520 right now.
Why? We wondered why.
Well now it is plain to see.
Apple spent $14Billion to buy shares over 2 weeks to reinvigorate the share price. Probably they were worried about that next "resistance" level at $400.
Here is one take on the situation:
"Apple's $14 billion stock buyback helps save money on dividend payments
by Yoni Heisler Feb 7th 2014 at 6:00PM
Tim Cook yesterday revealed that Apple in the last two weeks alone snatched up US$14 billion worth of its own shares. That's an astounding figure that really puts Carl Icahn's investment in Apple to shame. To help put the $14 billion buyback into context, this tweet from Sammy the Walrus IV certainly helps paint an interesting picture."
For more:
http://www.tuaw.com/2014/02/07/apple...on-dividend-p/