Apple Inc., led by Tim Cook, has bought back $704 billion in stock over the past decade, exceeding the market capitalization of all but 13 companies globally and 488 companies in the S&P 500 index. Experts like Jim Cramer have criticized Apple’s share repurchase strategy, suggesting an acquisition in the AI space.

Companies like Eli Lilly, Visa, Mastercard, and Netflix have a lower market capitalization than Apple’s buybacks in the last 10 years. The push for Apple to acquire the AI-powered search engine, Perplexity AI, stems from an anticipated antitrust ruling against Alphabet Inc., which could impact Google’s default search deals with Apple’s Safari browser.

Wedbush Securities’ Dan Ives shares Cramer’s view that Apple needs to make a strategic partnership with companies like Perplexity or Anthropic. Ives believes Apple must make a move to boost its stock performance, especially after announcing a new $100 billion commitment to increase investments in the U.S., bringing its total commitment up to $600 billion.

Read more at Yahoo Finance: Apple’s $704 Billion Decade-Long Buybacks Exceed Market Cap Of All But 13 Companies Worldwide