
Some long-term valuation models are projecting negative overall returns for the S&P 500 over the next decade. Analysts are expecting rising interest rates to weigh on earnings growth, so companies may start turning to more aggressive share buybacks to boost EPS.
Deep Pockets: In the third quarter of 2021, Apple, Inc. (NASDAQ:AAPL) led all S&P 500 companies with $20.4 billion in buybacks. Alphabet, Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) was a distant second with $15 billion in buybacks, followed by Meta Platforms Inc (NASDAQ:FB) with $12.6 billion.