Cook's Massive Apple Buybacks Pay Off for Shareholders

Under Tim Cook's leadership, Apple has made its largest-ever stock buyback program. The company has spent more than any other on repurchases over the last decade, with a total of $877 billion in shares bought back.

The first major repurchase authorization under Cook was for $10 billion in 2013, but this was later increased to $60 billion and then set new records at $100 billion in 2018, $110 billion in 2024, and $100 billion again in 2025 and 2026.

Apple's buyback program has resulted in a significant reduction of outstanding shares. When Cook took over, Apple had about 26 billion split-adjusted shares, but this number fell to around 14.6 billion by July 2026, representing a decrease of nearly 44%.

The impact of the buyback on shareholders is substantial, with each one owning almost 80% more than they did when Cook first became CEO. However, some argue that buying back shares at higher valuations can reduce their added value for investors.