In an article from Bloomberg, Citigroup analyst Jim Suva states that Apple may soon announce a stock buyback of up to $90 billion. In addition, the company will also raise its dividend by 5% to 10%. Second-quarter results are due to close on April 28. 

While Apple’s repurchases have totaled $274.5 billion, $20.4 billion was just from the December quarter. There’s a lot more to be done as the Cupertino company has over $200 billion on its balance sheet and is authorized to purchase up to $315 billion of stock.

Other tech companies like Alphabet, Amazon, Meta, and Microsoft also have a slew of excess cash to spend as well. Despite the 14% drop of the Nasdaq 100 index, Apple has done well, only falling 6.7%. 

Additionally, Suva notes that the tech giant’s current market value doesn’t even include the potential for new product categories like the Apple Car and Apple Glasses

Even with struggles in production, Apple has still remained stronger than ever. With these financial results in mind, how much will Apple’s stock climb throughout the year? WWDC 2022 is coming up in June and here Apple could announce new software and hardware. In the coming months, it will be exciting to see what comes next from this tech giant. 

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About the Author

Allison McDaniel

Allison is a News Writer at 9to5Mac covering Apple news and rumors.

You can email her directly at allison@9to5mac.com or catch her on Twitter at @aamcdani