Subject: Re: Apple today
"Seems nuts that Apple buys back shares at any price no matter how high."

It does seem nuts, but if you look throughout the history of their buybacks, it has been a REMARKABLY profitable endeavor.

Never more profitable than when they were able to borrow money at a lower rate than their dividend rate. So stock bought back resulted in actual better cash flow because the retired dividend was higher than the interest payment. That was a masterstroke on the part of Apple back then.