Apple Number One in Buying Back Shares
S&P announced yesterday that Apple bought back $5 billion of its shares in the second quarter of 2014, the largest buyback for any company for the quarter. This is in addition to the $18 billion it bought back in the first quarter of the year. Apple’s total buybacks for 2014 are likely to beat last year’s $26 billion.
Apple Denies Rumors About Music Service Beats
This week, Apple denied widely reported rumors that it was planning to close down Beats, its recently acquired music-streaming business.
iShares U.S. Technology ETF — IYW
With the launch of the new iPhones and the soon-to-be-released Apple Pay and Apple Watch, the company appears to be firing on all cylinders. The stock, however, is vulnerable to public tastes, which can be fickle. To invest in AAPL while reducing your risk, consider an ETF such as IYW, which has 18.24 percent of its holdings in AAPL.
For the week from close-of-market Tuesday, Sept. 16, through Tuesday, Sept. 23, AAPL rose 1.76 percent, beating the market by a few percentage points. During that time period, the overall market declined — the Dow falling 0.44 percent, NASDAQ falling 0.97 percent, and the S&P 500 falling 0.81 percent.
By Diana Primavera, ETF Daily News