updated 04:00 pm EDT, Thu July 25, 2013
Acquisition cost nearly doubles that of Blackberry and HTC
Hidden within Apple's latest quarterly results is an interesting discovery -- the company was scheduled under previously-announced stock-buyback plans to pick up 10 million shares of the company during the last quarter. Instead, at a cost of $16 billion, it appropriated and retired nearly 36 million shares of stock in itself. In one quarter, Apple could have purchased Blackberry and HTC, and still had $6 billion left over. The reason for the accelerated buyback isn't yet clear.
Asymco's Horace Dediu says in his review of Apple's quarterly earnings that one way to think of it is that the purchase is "Apple's greatest acquisition ever."
Given numbers provided by Apple, the price per share paid by the company averages out to be around $488 per share, but considering that the stock price hasn't climbed above $460 since April, the company likely purchased well more than the amount it retired for employee awards and other uses.