Apple repurchases $14B of stock in two weeks

|About: Apple Inc. (AAPL)|By:, SA News Editor

Apple (AAPL) has bought back $14B worth of shares in the fortnight since it released its disappointing FQ1 results, with the company purchasing $12B via an accelerated share repurchase program and $2B on the open market,

Apple has now acquired over $40B in stock during the past year as part of a plan to buy back $60B worth of shares.

The company, which is sitting on a cash mountain of $160B, is set to face a shareholder vote at its annual meeting at the end of the month over Carl Icahn's proposal to repurchase an extra $50B of shares by the end of September.