Apple And The Announced Buyback -- Back-Of-The-Envelope -- April 29, 2021

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.