Except it doesn't work.
Let's say there is exactly one billion shares outstanding. Each share is one billionth of the company. Now Apple starts buying back shares. After buying 500 million shares, each remaining share is now two billionth of the company - it is worth twice as much. No matter how many shares Apple buys back, all the shareholders together own exactly 100% of the company. If Apple buys back 999,999,999 shares and only one share is left, the owner of that share owns Apple.
I don't understand the reasoning here, maybe you can explain it to me. Let's say there are 1 billion shares and Apple buys all but 1, then Apple has all but 1 share, and the individual with that one share still only has one, so that individual still only owns 1 billionth of the company. You seem to imply the share are destroyed if Apple buys them. Couldn't they keep the shares alive and only abolish them once they own them all? That way no individual ever owns the company. For instance, every time a share is bought by Apple, they can give them to the top executives, so that those executives control the company and no one else.