Apple announced as part of its quarterly earnings report on Tuesday that it would buy back another $100 billion of its stock. When Congress passed the GOP tax law last year, there were fears that companies would use the cash saved to enrich shareholders rather than employees — and Apple's announcement would seem to fuel those concerns. Apple's chief financial officer, Luca Maestri, defended the buyback on an earnings call Tuesday evening, saying the company's stock is undervalued and arguing...

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