Back on May 6, Apple’s (AAPL) stock price hit the $600 mark the first time in nearly two years, marking an incredible recovery following a multimonth stretch in 2012-13 that saw the value of AAPL nearly halved.
There are many reasons why AAPL stock is clawing its way back to near its all-time high of $705.07, achieved on Sept. 21, 2012.
However, backing out Apple’s new slate of iPhones — which won’t even be out until later this year — very few of Apple’s moves of late have had anything to do with AAPL growing its business organically through the introduction of new products.
Instead, it’s using every capital allocation trick and more to move AAPL stock higher.
Today, we’ll look at five methods AAPL is using to create value for shareholders. It’s up to investors to decide whether the actions taken to date amount to real value, or if it’s mostly just smoke and mirrors.