Apple Had the Cash to Buy Any of 486 S&P 500 Companies, but Tim Cook Bet $851 Billion on This Instead

This financial analysis article discusses Apple's massive share repurchase program under CEO Tim Cook. Since 2012, Apple has spent $851 billion on stock buybacks, a sum sufficient to acquire any of 486 companies in the S&P 500 index. The article highlights that Apple, despite largely sitting out the AI boom, has seen strong stock performance, rising 22% in 2026 and 1,250% over the past decade. The buyback strategy, combined with Apple's robust profitability ($71.7 billion net income in the last six months), has significantly reduced the outstanding share count by over 40%, boosting earnings per share. The piece frames this as a deliberate capital allocation choice that has rewarded shareholders, contrasting with potential acquisitions or other investments.