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Apple has become the first company to graze a $3 trillion market value just before closing on Monday.
Apple’s stock has seen a continuous rise, with the company being the one of the biggest repurchases of its own shares in the S&P 500. During its 2021 fiscal year that ended in September, the company spent $85.5 billion to repurchase its shares and $14.5 billion on dividends.
Share buybacks have allowed Apple to reduce the supply of its shares in the market, increase earnings per share, and boost its stock prices.
This consistency is why Apple is seen as a safe haven for investors thanks to its ability to maintain a large cash flow and return money to investors.
“The recent rally in shares in part may reflect investor expectations of relatively stable demand and continued strong cash flows and capital return for a stock that has performed largely in-line with the market,” said Wamsi Mohan, analyst at Bank of America Securities.
History has been on Apple’s side, and it’s expected that its stocks will remain reliable thanks to its massive cash flow.
To compare, Apple reported a $104 billion cash flow during fiscal 2021, while Microsoft and Alphabet reported $77 billion and $65 billion respectively.
