U.S. Companies Drive Trillion-Dollar Stock Buyback Boom at Record Pace

BlockBeats News, August 28 – U.S. companies are planning stock buybacks at a record-breaking pace. According to data from Birinyi Associates, as of August 20, announced stock buybacks have exceeded $1 trillion, reaching this scale in the shortest time in history. In recent months, major corporations have been approving large-scale buyback plans. Apple announced a $100 billion stock buyback after releasing its quarterly earnings in May, while Alphabet, JPMorgan Chase, and Goldman Sachs have each announced buybacks of at least $40 billion. Last month, U.S. companies announced a total of $166 billion in buybacks, setting a new record for the highest amount in July's history. Birinyi Associates President Rubin predicts that the total announced buybacks by the end of the year will reach $1.3 trillion. However, buybacks have also drawn criticism from some members of the Trump administration. Treasury Secretary Besant on Wednesday specifically criticized Boeing for conducting "large-scale" buybacks instead of investing in research and development. (Jin10)