股票回購又回來了！

股票回購將減少公司流通股的總數，降低公司資產負債表上的現金總額。一般而言，股票回購往往會提高股票價格，不僅由於股份供應減少，還由於股票回購將提高每股盈利，從而降低市盈率，這是投資者用來評估公司價值的重要指標。如果公司有強大的現金流，而股票被低估，股票回購可以是回報股東的好方式。隨著美國市場今年創下歷史新高，全球巨頭企業進行股票回購。 $道瓊斯指數 (.DJI.US)$, $納斯達克綜合指數 (.IXIC.US)$, $標普500指數 (.SPX.US)$ 今年美國市場創下歷史新高，全球巨頭企業也在進行股票回購。 $谷歌-A (GOOGL.US)$, $蘋果 (AAPL.US)$, $美國銀行 (BAC.US)$ , $Meta Platforms (FB.US)$， $摩根大通 (JPM.US)$, $麥當勞 (MCD.US)$, $微軟 (MSFT.US)$, $奈飛 (NFLX.US)$, often cited as a key support for US stocks could lift investor hopes by driving the market even higher. The main drivers of the share buyback are excess cash on balance sheets and positive sentiment on the back of healthy financial performance. While companies buying back their own shares can support higher stock prices , they run the risk of overvaluing stocks. Investors should proceed carefully if the buyback seems to be motivated by the management's desire to improve its valuation metrics rather than returning value to shareholders. Companies that use buyback to give the impression of rapid growth in earnings per share may not be worth investing in. Among the companies participating in share buyback, I am most bullish on $蘋果 (AAPL.US)$, one of Warren Buffett's all time favourite stocks. Its strong brand and innovative design expertise has allowed $蘋果 (AAPL.US)$ to build one of the most loyal customer bases in the world and generate earnings that beat its competitors in the mobile computing market. Not only that , $蘋果 (AAPL.US)$在移動領域的主導地位使其建立了一個非常盈利的軟體生態系統。更好的是， $蘋果 (AAPL.US)$ 支付較高的股息並且股東可以預期長期內會有巨大的股息增長。