A report from the Wall Street Journal today details how Apple (AAPL) lost $9 billion this past year due to a single “underperforming investment” — itself. The report explains that after the surplus of cash the company had through Trump’s 2017 tax overhaul, Apple bought back AAPL shares at peak prices, essentially overpaying for themselves.
Even though AAPL yesterday saw its best single-day performance in over five years, the ~$10 gains made on the share price pale in comparison to the significant losses the stock saw over the past weeks.
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