Apple Spent $67 Billion Repurchasing Shares in Fiscal 2019

Over the past five years, Apple's (NASDAQ: AAPL) market capitalization has risen by a nice 79%. But its stock has soared 137% over this same timeframe. What gives?

Investors can thank the company's aggressive repurchases of its shares for the outsize gain in Apple's stock price. The tech giant has been an excellent steward of its excess capital, buying back shares opportunistically -- and fiscal 2019 was no exception. Apple bought back over $67 billion worth of shares during the year.

Here's a closer look at how Apple is deploying its excess cash to increase shareholder value.

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Source Fool.com