Tontine Research

Apple (AAPL) is returning to the bond market with a four-part offering that marks the company's fourth debt offering in a little over a year. In a regulatory filing, Apple outlines...

Also corrections, Somali shillings, bank bonuses, regulatory SWAT teams and unicorns.

Buying back shares can be a sensible way for companies to use extra cash. But in many cases, it is just a ploy to boost earnings.

A tender offer is an offer to purchase some or all of shareholders' shares in a corporation.

When a company buys back shares of its stock, the shares can be reissued, retired, or given to employees.

Properly executed stock repurchases are one of the best and lowest-risk ways to create value for shareholders.

In 2020, Warren Buffett embarked on a transformative course at Berkshire with $24.7B in buybacks. See what Berkshire Hathaway stock might look like in 5 years.

Exploring how to find 100 Baggers is the premise of Christopher Mayer's Book 100 Baggers: Stocks that Return 100 to 1 and How To Find Them (2015). Monster Beverage reached 100x in only 9.5 years!

One of the most controversial debate topics in the investment community is what Apple (NASDAQ:AAPL) should do with its cash.

Learn about stock buybacks and how they affect financial ratios and stock value.

Dividends aren’t the only way companies can return capital to investors, and buybacks are an extremely important concept to understand.

They eliminate much of the costs associated with annuities by not ensuring against unexpected gains in life expectancy

One of the more certain items found with Apple’s upcoming 2Q19 earnings is that the board will approve increases to the company’s share buyback authorization and the quarterly cash dividend. The two capital return initiatives continue to be polarizing topics as Apple holds more than $100 billion of

AAPL has had a rough two months. The shares are down nearly 20% from all-time highs, shedding $275 billion of market cap in eight weeks. Unprecedented does a good job of describing the fall’s magnitude and speed. Apple’s dramatic stock price drop is now leading to a surge in pessimism towards the

Share buybacks have once again come under fire. Some companies that were recent buyers of their shares now find themselves in financial distress and seeking bailouts due to economic fallout from the pandemic. Set within this environment and backlash, Apple is scheduled to provide a

Has the time come to revive an investment vehicle that flourished in the 17th century as a way to pool money?

Review of Moshe Milevsky's book "King William's Tontine" and a discussion of how tontines work, are they legal, and how do they compare to an annuity?

The Case for Tontine Pensions as a Lifetime Income Solution for State-Sponsored Retirement Savings Programs By Richard K. Fullmer and Jonathan Forman The quest for retirement security faces significant challenges in virtually every country around the globe. Traditional defined benefit (DB) pensions are challenged by increasing life expectancies, a lower ratio of workers to retirees, […]

Tontines are a type of historical annuity structure that was first put into well-documented practice as far back as the 1600s.

Apple's considerable repurchase plan continues to be what is driving momentum.

Apple (AAPL) has more than earned its reputation as a trend setter. According to RBC analyst Robert Muller, besides its position as a tech innovator, Apple is also “in a league of its own when it comes to share repurchases.”Muller argues the market is underestimating the financial impact Apple’s aggressive share buyback policy will have over the next few years.“We estimate that within our base case, AAPL can grow its EPS at a 3.5% CAGR over the next 5-years if we assume zero growth beyond FY20 while continuing its repurchase pace of ~$70 billion annually. What this implies, to us, is that the potential uplift from the upcoming 5G upgrade cycle is being discounted by the market (in addition to recent robust Wearables and Services growth as well as any potential future product innovations),” Muller explained.How long can Apple maintain its current program?Muller believes if Apple continues to grow its top-line at its current rate of 3-4%, while maintaining its annual $70 billion share repurchase initiative, it has a decade left before reaching its stated target of becoming “cash neutral.”Even considering a “no organic growth scenario,” Muller estimates the tech giant can keep up the current rate of buyback activity until mid-2023.“At which point,” Muller adds, “AAPL could then repurchase ~$45 billion of shares indefinitely without affecting its net cash position. We note that this is on top of nearly $15 billion of annual dividend payments.”To this end, Muller reiterated an Outperform (i.e. Buy) rating on Apple, while raising the price target from $345 to $390. The upside potential from current levels is 9%. (To watch Muller’s track record, click here)Overall, Apple's Strong Buy consensus rating is based on 29 Buys, 4 Holds and 1 Sell. However, after recently notching another all-time high, the $340.23 average price target suggests possible downside of 5%. (See Apple stock-price forecast on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

Steve Jobs wouldn't be happy with the recent news out of Apple. Find out what to expect of Apple's dividend.

You heard that right.

I receive many questions about Apple from Above Avalon readers, listeners, and members. In previous years, one topic has been far ahead of any other as a source of questions. Everyone wanted to know about Apple’s share buyback program. Why is Apple buying back its shares? Is Tim Cook trying t

Apple has emerged as a stock buyback powerhouse in recent years, but why does the company choose to reward its shareholders this way?

A share repurchase is when a company buys back its own shares from the marketplace, which increases the demand for the shares and the price.

Looking for new ways to save for retirement? Many think that a tontine is the answer. Learn what it is and whether it's a good idea.