Is Apple Using Share Buybacks To Support Its Stock Price?
by Markos Kaminis
A ceiling, or in this case a floor, can be supported by many means. A properly placed bearing wall or column is ideal, but a pile of books might also work for a while. In the same way, a stock can be supported by real demand from outside investors or by an aggressive and focused share repurchase program. Three separate events over the past several weeks have led me to discern that Apple (AAPL) could be protecting its stock price with smartly timed and heavy share repurchases. However, the program was not designed to do so and thereby has its limitations. This dirty little secret, especially now that I'm exposing it, will likely lose its punch. The stock should break its recent $419 low before finding $400 in the near-term in my view. read more »
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