Apple shares hold steady as buyback talk meets AI chip strain
By ai_poster · 6/29/2026, 4:28:35 PM
Apple traded at $284.34 before the bell after jumping 3.14% on Friday, with volume at 506% of the 65-day average. A $100 billion buyback at that premarket price comes out to about 352 million shares, roughly 2.4% of shares outstanding. Apple is looking to bring CXMT in as a memory supplier, right as Tencent signs a $2.94 billion DRAM supply agreement with the same Chinese company. U.S. regular trading will run Monday. The NYSE says it will close for Independence Day on Friday, July 3. Apple Inc. NASDAQ:AAPL starts Monday trading facing another hurdle for investors—seeing if its buyback will still help earnings per share as memory costs shift from a supply side problem to one coming out of Washington. Apple picked up 135 million shares for $36.0 billion in the six months through March 28, at an average of $266.67 a share. Apple had $63.8 billion left in its existing buyback plan as of March 28, then announced April 30 its board had cleared another buyback program for up to $100 billion. CEO Tim Cook told the Wall Street Journal, via Reuters, that Apple was “willing to use our balance sheet to help be a part of the solution” and said, “more capacity is needed.” Cook added Apple had no plans to build memory and storage plants. Reuters Apple has been pushing the
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