Well, I’ve told everyone to buy the stock over and over.
This is the power of earnings, cash, and a prodigious buyback.
Apple is STILL trading at a completely reasonable valuation, and is still cheaper than much of tech.
[automerge]1591822276[/automerge]
Borrowing money to buyback shares is one very obvious example of how the Fed props up markets with free money. There are a litany of other mechanisms which are well known.
Apple has the cash to buyback the shares, they just used debt to do it when the money was overseas before the tax holiday.
You have to participate in stocks or you will be left behind. Like it or not, they are the only game in town. Complain about companies being smart, or buy the shares. Apple doesn’t make the rules...they just play the game.
[automerge]1591822439[/automerge]
The stock market is not the economy. It’s part piggy bank, part gambling den. The market is going up because big investors have no where else to put their money. In times of crisis, people want US dollar valued assets. They've already bought US bonds to the point that they are essentially zero or negative interest. Tech stocks are outperforming others because their business model is less affected than, say, financial stocks (see interest rates) or anything that involves travel or public entertainment.
Stocks have essentially no risk over the long term. It is far, far riskier to not own stocks and hold cash.
Markets look forward. Companies doing well and particularly consumer products companies like Apple with real earnings to back up the valuation ARE economic indicators.