Hello everyone. Today’s update will conclude our Apple 4Q23 earnings review. It’s been a busy week and we covered A LOT of ground. There are a few broader topics dealing with the Mac and iPad that extend far beyond any one earnings report. We will address / tackle those topics in due time.

As a recap, here were the earnings review sections:

November 3rd: Initial Impression From Apple’s 4Q23 Earnings, Key Numbers From Apple 4Q23, About Apple’s 1Q24 Guidance
November 6th: Three Interesting Charts for Apple’s 4Q23
November 7th: Reading Between the Lines of Apple’s 4Q23 Earnings Q&A With Analysts
November 8th: Apple 2Q23 10-K Takeaways

In today’s update, we will discuss Apple’s share buyback trends and paid subscription tally.

Apple Share Buyback Update

There were a few interesting observations regarding Apple’s share buyback activity.

Here is quarterly data from the past three years for Apple's share buyback via open market transactions:

4Q20: $18.0B. Average repurchase price per share: $106.68
1Q21: $24.0B. Average repurchase price per share: $120.19.
2Q21: $19.0B. Average repurchase price per share: $128.89.
3Q21: $17.5B. Average repurchase price per share: $128.48.
4Q21: $20.0B. Average repurchase price per share: $146.41.

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