11-08-2025
Tech, Banks Lead Record U.S. Buyback Wave
Apple (NASDAQ:AAPL) and other heavyweights are driving a record buyback wave, with U.S. repurchases on track to top $1.1 trillion this year, The Wall Street Journal reported.
Companies have announced $983.6 billion YTD, the strongest start since Birinyi Associates' data began in 1982. July alone hit $165.6 billion, topping the prior July record of $87.7 billion set in 2006. The biggest buyers include Alphabet (NASDAQ:GOOG), JPMorgan (NYSE:JPM), Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS), alongside Apple.
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The mood is upbeat. Things are better than everyone makes them seem, said Birinyi president Jeffrey Yale Rubin, adding that many firms are flush with cash. Trade uncertainty has nudged boards toward buybacks when capex plans slow, and companies kept buying even when markets were softer. S&P 500 (SP500) repurchases reached $293.5 billion in Q1 2025, a quarterly record.
Larger buybacks can lift EPS, support shares on pullbacks and concentrate returns in megacaps, while sparking debate about investment versus capital buyback engine is humming, and investors will watch 2H authorizations and Q3 execution for confirmation.
This article first appeared on GuruFocus.
