The complicated year of Apple has been reflecting for some time in the actions of the company. Despite having had the best day in years on the stock market, new data shows that the company has been picking up to try to hold good numbers. According to the Wall Street Journal, the giant has already spent $ 62.9 billion this year to buy back shares in the market and hold down the price. And this only considering the first three quarters of 2018.
The amount was a record in company spending in this sector. The problem is that the amount was exactly equal to the revenue that the company had in the last quarter, in a report released in September this year.
In this scenario, it is evident even to the less knowledgeable about stocks that Apple did not do a good deal. The company had a historic peak in stock prices in October this year. Some of the papers bought by the company were traded for $ 222.
Since then, stocks plummeted to the 30 percent mark and are traded at about $ 156. The paper estimates that the company lost $ 9.1 billion with just this move. That’s because investments of $ 62.9 billion now stand at close to $ 53.8 billion. Still, the matter points out that Apple bought back about 6.7% of its shares this year.
These numbers are expected to continue at the end of the year, as the company’s goal of buying back stock is to push them higher by holding the higher value of the shares. As Apple experienced another downtime now by the end of the year, it is quite possible that it has tried to hold the price down.
The company has hit the $ 232 mark on its stock, but quotas are down in the last quarter. The December balance, so far, is to reduce the house by 15% in the stock price.
Apple also needs to work on possible new import fees from iPhones from China to the US market, which has also helped to bring down the company’s stock.