Apple Inc. (NASDAQ:AAPL) shares have surged more than 12% since April 23, when the company reported its second quarter results. The tech giant’s Q2 results were much better than expected. That wasn’t all, Apple Inc. (NASDAQ:AAPL) surprised the markets with 8% dividend hike, 7-to-1 stock split, and a $30 billion share buyback program. On April 29, the iPhone maker issued $12 billion of bonds in a 7-part offering. The bond offering includes five fixed-rate notes worth $10 billion and two floating-rate notes worth $2 billion.
Apple to spend the proceeds on buybacks, dividends
Apple Inc. (NASDAQ:AAPL) said it will use the proceeds for general corporate purposes including dividend payments and share buybacks. Yesterday, Apple also updated two new MacBook Air products with Intel Corporation (NASDAQ:INTC)’s Haswell processors. The new MacBook Airs have a lower price. Goldman Sachs analysts Bill Shope, Cristina Colon and Justin Price said