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Apple announces largest-ever $110 billion share buyback as iPhone sales drop 10%

Apple shares climbed 7% in extended trading on Thursday after the iPhone maker reported quarterly earnings that topped estimates and announced an expanded stock buyback program.Apple announced that its board had authorized $110 billion in share repurchases, a 22% increase over last year's $90 billion authorization. It's the largest in history, ahead of Apple's previous repurchases, according to data from Birinyi Associates.However, overall sales fell 4% and iPhone sales fell 10% year-over-year d...

Read more at cnbc.com

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