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US Companies Accelerate Trillion-Dollar Stock Buyback Trend at Record Pace
Summary: According to sources, US companies are planning to buy back stocks at a record pace. Data from Birinyi Associates shows that as of August 20, announced stock buybacks have exceeded $1 trillion, reaching this scale in the shortest time in history. In the past few months, large companies have approved massive buyback plans, with Apple ...
According to sources, US companies are planning to buy back stocks at a record pace. Data from Birinyi Associates shows that as of August 20, announced stock buybacks have exceeded $1 trillion, reaching this scale in the shortest time in history.
In the past few months, large companies have approved massive buyback plans, with Apple announcing a $100 billion stock buyback after releasing quarterly earnings in May, and Alphabet, JPMorgan Chase, Goldman Sachs, and others announcing buybacks of at least $400 billion each. Last month, US companies announced buybacks totaling $166 billion, setting a record high for July.
Rubin, president of Birinyi Associates, expects the total buyback amount announced by the end of the year to reach $1.3 trillion. However, buybacks have also drawn criticism from some members of the Trump administration, with Treasury Secretary Mnuchin criticizing Boeing for conducting large-scale buybacks instead of investing in research and development.
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