Apple Announces Record $110B Buyback

Apple reported fiscal Q2 results that topped expectations and announced a record $110 billion share buyback program, the largest in corporate history.

Results Highlights

• Revenue: $90.8B vs. $90.0B expected (-4% YoY)
• EPS: $1.53 vs. $1.50 expected
• iPhone: $45.9B (-10% YoY, China weakness)
• Services: $23.9B (+14% YoY, record)
• Mac: $7.5B (+4% YoY)

Capital Return

• $110 billion share repurchase authorization (record)
• Quarterly dividend raised 4% to $0.26/share
• The company has returned over $700B to shareholders since 2012

AI Strategy

CEO Tim Cook provided the most detailed AI roadmap yet:

1. On-device AI processing with custom silicon
2. Generative AI features coming to iOS 18
3. Partnership with a major AI lab for cloud capabilities
4. Focus on privacy-preserving AI

"We believe we have advantages that will differentiate us in AI," Cook said on the earnings call.