New for subscribers: Apple's buyback firepower puts it in a 'league of its own,' RBC says Check out CNBCPro for a free trial.
The banks raised its price target on the stock, saying the available cash gave the company a lot of room for error to keep up with other large stocks.
While many large companies have suspended buybacks amid concerns about cash flow during the pandemic, the tech giant reported more than $192 billion of cash at the end of its second-quarter.
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Apple says consumers and advertisers spent more than $500 billion through apps last yearThe study from Analysis Group comes a week before WWDC, Apple's annual conference where it tries to persuade software developers to build apps for its platforms.
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