Apple said it will repurchase 5 million shares.
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The company could pull in about 8% of its total shares under the repurchase plan. Wall Street analysts had been concerned about the large number of shares--about 3.5 million in the past year--that the company has been issuing through its employee stock programs. The buyback, which will reduce the number of shares outstanding and thus increase profits per share, is in response to those concerns.
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