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Apple’s new $100 billion share buyback is the second-largest in history

MacDailyNews

May 2

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Apple on Thursday announced a $100 billion share repurchase program, marking it as the second-largest buyback in U.S. corporate history, surpassed only by its own $110 billion plan in 2024. This massive initiative, authorized by Apple’s board, underscores the company’s confidence in its long-term value and robust cash flow, underscored with a second quarter revenue increase of 5 percent year over year.

The buyback aims to reduce outstanding shares, boosting earnings per share (EPS) and potentially lifting stock prices. Apple, which spent $81.8 billion on repurchases in the last 12 months, has a history of aggressive buybacks, totaling $650 billion since 2012. This new plan follows a $90 billion repurchase in 2023 and is paired with a 4% dividend increase, signaling a focus on shareholder value.

Apple’s $103.9 billion in free cash flow supports both buybacks, R&D, and other investments in the company. With six of the top 10 U.S. buybacks, Apple continues to dominate capital return strategies.

MacDailyNews Take: Below is a list of the top 10 largest annual stock buyback programs by American companies, based on available data up to 2025, including the company, the amount, and the year of the buyback announcement or execution. Note that some figures reflect authorizations, while others reflect actual repurchases. Some programs span longer than a year.

Apple dominates the list with five entries, reflecting its unparalleled buyback activity, totaling over $650 billion since 2012 or more than double every other companies’ buybacks on the Top 10 list.

Top 10 Largest Annual Stock Buyback Programs By American Companies

Apple – $110 billion (2024)
Announced in May 2024, this is the largest stock buyback authorization in U.S. history, surpassing Apple’s own 2023 record. Apple spent $104.2 billion on buybacks in 2024.
Apple – $100 billion (2025)
Announced in 2025, this is the second-largest buyback program, following Apple’s 2024 record.
Apple – $90 billion (2023)
Part of Apple’s ongoing buyback strategy, this authorization contributed to $77.5 billion in actual repurchases in the 12 months ending September 2023.
Apple – $89 billion (2022)
Executed in Apple’s fiscal year 2022, this was nearly 7% of the global buyback total for that year.
Apple – $75 billion (2019)
Authorized in 2019, part of Apple’s massive buyback program totaling over $650 billion since 2012.
Chevron Corporation – $75 billion (2023)
Announced in January 2023, effective from April 2023, with no fixed expiration date.
Alphabet – $70 billion (2024)
Announced in April 2024, continuing Alphabet’s buyback pace from prior years, with $62 billion repurchased in 2024.
Wells Fargo & Co. – $40 billion (2025)
Part of a significant buyback program announced in 2025, with $18 billion repurchased in 2024.
Goldman Sachs – $40 billion (2025)
Announced in 2025, contributing to the wave of large buybacks that year.
Visa – $30 billion (2025)
Announced in 2025, reflecting Visa’s confidence in long-term growth.

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