Apple Is A Hedge Fund or Phone Maker?

via Lawrence McDonald:

New Debt: $85B
Stock Buybacks: $50B
Dividends: $10B

Net Income

2019: $53B
2015: $53B

Shares Outstanding

2019: 4.6B
2015: 5.8B

With
@GerberKawasaki
and
@BearTrapsReport

*Street eps estimates. Bond issuance since 2013.