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Come on Apple, stop taking the p*ss!
As of the end of the September quarter, Apple had reduced its net cash position to $49 billion. For the fiscal year ended in September, Apple bought back $90.2 billion shares, up from $85.5 billion in fiscal 2021, and the highest annual total ever. Over the last 10 years, Apple has repurchased $554 billion in stock, in the process reducing its share count by about 35%, adjusting for stock splits... More here.
Apple is doing well, consistently well, and I have had no problems paying what I believe to be fair prices for the services and hardware I use. And then I got this-
That's a 10% increase during a period where so many are struggling, from a company that has $49 billion in cash on top of huge profits and growing revenues. Throw in the new ads appearing in the App Store and I start to sense a company that is focussing a little too much on the bottom line above the customer.
It would be an easy complaint to simply judge this as a money grab, but it does feel like a trend I see from so many organisations which is to drive profit above their employees, customers and eventually the quality they offer. A real shame.