• Tim Cook's ‘not even a quarter baked' justification for Apple's $100 billion stock buybacks has baffled some economists

    8 monthes ago - By Business Insider

    Apple CEO Tim Cook recently offered a novel argument to justify the company's use of share buybacks.
    Cook said that Apple's $100 million in planned buybacks will boost the economy because of the capital gains taxes investors pay when they sell their stock.
    Economists that Business Insider spoke to were perplexed by Cook's reasoning; one called it 'ludicrous.'
    Apple is about to embark on a record-breaking period of share buybacks.
    The iPhone maker is going to spend an additional $100 billion over a period of years to buy its own stock, a move that was made possible by tax reform legislation...
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