Apple bought USD 12 billion of shares via an accelerated share repurchase program (ASR) and USD 2 billion of shares from the open market, the spokesman said.

An ASR usually involves a company buying its shares from an investment bank.

Apple Ceo Tim Cook told a newspaper that Apple was surprised by eight percent decline in its shares on January 28, the day after it reported quarterly results.

Apple shares fell after the company reported lower-than-expected holiday-period iPhone sales and issued a weak revenue forecast.

With the latest round of repurchases, Apple has bought back more than USD 40 billion of its shares over the past 12 months, which Cook said was a record for any company over a similar span.

“It means that we are betting on Apple," Cook said.

"It means that we are really confident on what we are doing and what we plan to do. We are not just saying that. We are showing that with our actions," Cook added.

The share buyback was part of Apple's plan to repurchase USD 60 billion of its shares.

Excluding the latest purchases, Apple returned USD 7.7 billion to shareholders through dividends and buybacks in the December quarter, bringing the total under its capital return program to USD 43 billion.

Cook told the newspaper that Apple would issue updates on its buyback program in March or April.


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