Asymco: Apple share count has nearly halved from 26.5B peak to 14.6B

asymco · x · 2026-11-04

Asymco muses that Wall Street no longer 'throws away' Apple shares like it did in 2014–2019 — shorting or selling now costs real money.

The accompanying chart tracks Apple's shares outstanding since FY2005: peaking around 26.55 billion in late 2012, then shrinking steadily via massive buybacks to roughly 14.57 billion today, approaching the halfway mark of 13.27 billion — a striking illustration of the compounding effect of Apple's historic repurchase program.

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