Back-of-the-envelope:
- Apple is currently valued at $2.3 trillion
- 17 billion shares outstanding
- trading around $135/share
Buyback:
- Apple announces a $90-billion share buyback program on April 28, 2021
- with previous buyback yet to be completed, let's round that to $100 billion
- $100 billion / $135-share = 740,740,741 shares to be bought back.
That would leave:
- 17 billion shares - 750 million shares = 16.250 billion shares outstanding after the buyback
- assuming the market still values Apple at $2.3 trillion:
- $2.3 trillion / 16.250 billion shares = $142 / share.
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