Tech Share Buybacks in Fashion
Tech share buybacks in fashion. Apple and now Amazon, buyback their shares.
Times of India reports that Amazon, the world's largest e-commerce company, said on Wednesday its board authorized a $5 billion share buyback programme. The buyback replaces the $2 billion repurchase programme approved in 2010. The company had $763 million remaining under the previous plan. The company's shares rose 1.5% to $498 in after-hours trading. Amazon recently posted its most profitable quarter ever but the world's No. 1 online retailer still managed to disappoint Wall Street by badly missing estimates.