Is the buyback surge over? Don’t bet on it

Brendan McDermid | Reuters

A trader works at his post on the floor of the New York Stock Exchange, December 19, 2018.

The Wall Street Journal reports Apple has lost nearly $9 billion this year buying back its own stock. Apple is one of those buyback monsters that has spent significant money to buy back their stock, not just this year but since 2013 Apple’s share count has declined from 6.5 billion shares to 4.5 billion — a drop of 31 percent. There are other major players who have bought back their stock Oracle and Walgreens have also significantly reduced their shares outstanding this year, as have Wells Fargo and Applied Materials.

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U.S. retirees try to keep cool as stocks tumbleFederal Reserve Board Chairman Jerome Powell speaks during his news conference after a Federal Open Market Committee meeting in Washington, December 19, 2018.