(CNBC) Apple capped off a stunning rise on Monday when it briefly became the first company to touch a $3 trillion market value before closing the day just short of the mark. The relentless rise of Apple’s stock speaks to the power of Apple’s capital return program. In recent years Apple has been the biggest repurchaser of its own shares in the S&P 500 by far. Apple spent $85.5 billion to repurchase shares and $14.5 billion on dividends in its fiscal 2021, which ended in September.
Apple’s rise to $3 trillion market cap shows the value of its massive share buybacks
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