U.S. companies are advancing a trillion-dollar stock buyback boom at a record pace

ChainCatcher news, according to Jinshi citing data from Birinyi Associates, as of August 20, American companies are planning to repurchase stocks at a record pace, with announced stock buybacks exceeding $1 trillion, achieving this scale in the shortest time in history.

Large companies have approved massive buyback plans in recent months, with Apple announcing a $100 billion stock buyback after releasing quarterly results in May, and Alphabet, JPMorgan, Goldman Sachs, and others also announcing buybacks of at least $40 billion each. Last month, the total amount of buybacks announced by U.S. companies reached $166 billion, setting a record for July.

Rubin, president of Birinyi Associates, expects the total amount of buybacks announced by the end of the year to reach $1.3 trillion. However, buybacks have also drawn criticism from some members of the Trump administration, with Treasury Secretary Mnuchin specifically criticizing Boeing for conducting "massive" buybacks instead of investing in research and development.