No it wasn't. That was your response to me saying that they accumulated more cash last quarter after you said they didn't.
From the whole history of apple buying back its stock over time and people wanting to pay less and less for "less supply" of the shares that remain.
You've kind of been all over the place in this thread. I asked you what the stock was worth 3-4 quarters ago, and you said it was "$790-ish". Now you said that you get a value of $500 / share today using an "x earnings" valuation method. If you used an "x earnings" valuation method 3-4 quarters ago, you would have come up with a valuation of less than $500/share, and not even close to your $790 / share. In fact, it would have been about $420 using your "x-earnings" method.
They aren't buying them back right now Denny. Give it time. I have an open invitation for you. Seems you would rather use words than actually pony up and put money where your mouth is.
They've been buying back up to $10B of stock in the last year. It's not something they started doing today or will start tomorrow. http://www.theverge.com/2012/3/19/2884043/apple-stock-buyback-dividend Apple announces $10b share buyback starting in fiscal 2013, $2.65 dividend for Q4 March 19, 2012 Ahead of a conference call this morning, Apple has announced a pair of initiatives for its massive stockpile of cash totaling approximately $100 billion: a stock buyback beginning in fiscal 2013 (which begins on September 30th of this year) along with a per-share dividend of $2.65 to start sometime in fiscal Q4, which starts on July 1st. The buyback is expected to run over three years.
Well what better time to take advantage of my "all over the place" assessment of the value. I mean come on Denny! You will be $1,000 richer. Easy money!
