Panicked selling of AAPL lets Apple buy back billions cheaply

Media-induced panic related to the coronavirus outbreak has caused stocks to crash in value, with Apple's share price dropping to levels not seen since early December, back before it was appreciated how well Apple's iPhone 11, wearables, services, and other offerings had performed during holiday sales. That drop affords Apple a rare opportunity to snatch up billions of its shares at a discount nobody could have otherwise imagined possible.

Read at Appleinsider

Note: Apple’s stock has since plummeted down toward $240, allowing Apple to continue to spend tens of billions of funding already allocated for buybacks to take out its stock at an incredible discount. Federal U.S. bailouts for corporations are offering emergency funding and low interest loans for companies that don’t buy their own shares, but Apple has effectively limited cash to spend and has been floating bonds globally to effectively borrow massive amounts of funding at near zero interest already. It has no need to tap into emergency funding and no restrictions on the shares it can buy back.