Apple Borrows Billions to Fund Share Buybacks
Apple (NASDAQ: AAPL) is going through some significant disruptions to its business as a result of the COVID-19 pandemic. Still, the Cupertino, Calif. company is faring better than most businesses that have lost a substantial amount of revenue during the outbreak.
The economic impacts that followed government actions to slow the spread of the virus has led to financial insecurity for many individuals. More than 40 million people have filed for unemployment benefits since the beginning of stay-at-home orders. Stimulus payments and other elements of the CARES Act that was signed into law on March 27 are helping, but are not the final answer.
Ultimately, there needs to be a health solution to a health problem. Encouraging reports on developments for a vaccine to neutralize the coronavirus have the public feeling cautiously optimistic that there will be a return to normalcy sometime at the beginning of next year.
Source Fool.com
