"Magnificent 7" Stocks: How Much Will They Spend on Buybacks This Year?
$NVIDIA(NVDA.US$ said its board approved $25 billion in additional share repurchases "without expiration," and that the company plans to continue repurchases this fiscal year.
Meanwhile, several other megacap tech and growth companies have announced even bigger buybacks this year: $Apple(AAPL.US$ at $90 billion, $Alphabet-C(GOOG.US$ at $70 billion and $Meta Platforms(META.US$ at $40 billion.
In the first half of the year, companies on the $S&P 500 Index(.SPX.US$ repurchased just over $400 billion of stock, according to Citi. They're currently on pace to return just over $800 billion in 2023. That would be down about 11% year-over-year.
For buybacks, "this year's pullback is not a concern," writes Citi strategist Scott Chronert. "We anticipate a positive inflection in free cash flow growth for the S&P 500 headed into 2024."
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151168433 : The above graph showsNvidia plans to do more buyback than cash in hand. Is it true or graphical error?
GoliathSack 151168433: do tesla & amazon have zero buybacks?
JonnyBets : is this bad news? or good?
14VO25 JonnyBets: means we go up more
JonnyBets 14VO25: we go up
Rigid Bull GoliathSack : Tesla hasn't announced any buy backs yet. I am sure it will once it increases profits significantly and the economy recovers.
雪中行走 GoliathSack : Who said that
DudeThatsDerpy 151168433: I wondered the same exact thing.
In One ChartOP 151168433: Nvidia said its $25 billion in additional share repurchases "without expiration," the goal looks achievable. Nvidia in the July quarter bought back $3.07 billion of stock, just over half of its free cash flow. Analysts now expect $34.4 billion in cash flow next year—so if the company plans to return more than half of that in buybacks, repurchases would total close to $20 billion.
fearless Narwhal_132 : Any company investing in themselves is always a very good sign
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