So you don’t have a problem with buybacks as long as other government and societal situations are what you want. Got it, so buybacks aren’t the actual issue for you. Glad you cleared that up
If Apple paid a much larger tax rate…they would still have a GDP pile of cash. It’s what happens when you print money for years and make tons of money with essentially no variable cost (via the App Store). I was more thinking the idea of “Apple shouldn’t have that cash right now” and thinking it should be thus redistributed further, which I read multiple think pieces about over the years and think is crazy.
And as I said, not all buybacks are created equal. I don’t know what expectations for capital investment and organic growth you have for one of the biggest and most profitable companies in the world, not to mention it’s not an either/or. They have plenty of money to do both.
Like most things, I take it on a case by case basis. And this has very little to do with other buyback scenarios.
Fair enough, my source of concern comes from the rate of internal investment. It crashed in 2008-2009 and has not crept back up.
That plus consistent massive buy backs to juice stock prices has me concerned for the longevity of the robustness of our innovative economy. You can only wring a rag so much.
Buybacks do nothing for my view that short term growth investing decisions have all but completely encapsulated the economy at our longer term future expense.