Apple takes $US14bn bite of its stock via buyback

APPLE has repurchased $US14 billion of its stock in the two weeks after its first-quarter financial results and second-quarter revenue outlook disappointed investors.

Apple takes $US14bn bite of its stock via buyback Apple bought $US12 billion of the shares through an accelerated repurchase program and $US2 billion on the open market, the company confirmed.

Apple Inc. CEO Tim Cook said in an interview with The Wall Street Journal that the company was "surprised" when its stock dropped 8 per cent the day after its earnings report and revenue outlook. He told the newspaper he wanted to be "aggressive" and "opportunistic."

Apple has grown accustomed to being a leader in the technology sector...

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