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The week's question
In December 2024, in the thread "Re: BRK: Why Not XOM?", BreckHutHigh asked the members: "What about the long road trips with kids?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)
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Author: nola622   😊 😞
Number: of 21943 
Subject: Re: Apple from FT
Date: 01/15/23 8:05 AM
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The macrotrends link gets the gist correct, but for whatever reason, the way they scrape the data results in an incorrect share count for Apple for each 10K (each 9/30 date). Apple's share count doesn't stop falling and rise all of sudden each fiscal forth quarter. But the data presented in a 10K is a different format from a 10Q so somehow this site is scraping the wrong (not-comparable) figure for each fiscal Q4.

For reference, at 9/30/2022 Apple had 15,943,425,000 shares outstanding.

The most recent share count released (from the proxy) is 15,836,213,000 on 1/9/2023.

I believe the above figures indicate that Apple again slowed their share repurchase activity during a period it was seeing weakness in the business. The most popular iPhone model were supply constrained during the holiday quarter. The previous quarter (fiscal Q4), Apple repurchased over $25 Billion in stock. This looks like fiscal Q1 repurchase slowed from that pace. They have done this in the past when they are seeing a weak quarter. Unfortunately it often has the effect of slowing repurchase activity when the share price is lower and ramping it back up when the share price is higher.

I believe that puts Berkshire at 5.78% for what it's worth.

I've always been a fan of this document that Apple has put out consistently each quarter for a long time:
s2.q4cdn.com - Return of Capital Timeline
(this is a pdf from Apple's investor relations website)
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This community has written 21,448 posts about Berkshire Hathaway. The article-length ones it recommended most:
BRK: Why Not XOM? · 62 recs · 2024
Second quarter comments · 60 recs · 2023
Berkshire's Profit Contributors · 57 recs · 2023
Summary of 2Q 2026 · 54 recs · 2026
3Q Summary · 53 recs · 2024
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