Apple will give $100 billion more back to shareholders because of the tax cut: Citigroup
Apple's capital return plan will get much larger, according to one Wall Street firm. Citi Research reiterated its buy rating for Apple shares, saying the company will use tax reform proceeds to significantly increase its stock buyback and dividend program. "We do expect volatility ahead as consensus estimates calibrate to lower March and June quarters given more tempered demand for iPhone X," analyst Jim Suva wrote in a note to clients Wednesday. "Looking ahead, we expect investor focus to be on the impact from Apple's capital returns strategy...