Core Insights - Over the last decade, Apple has returned $847 billion to shareholders through dividends and share buybacks, which is comparable to the market caps of major companies like Berkshire Hathaway and AMD [1] Group 1: Capital Returns - Apple has demonstrated significant payout power, providing direct returns to shareholders, which reflects management's confidence in the company's financial health and cash flow generation [4] - The total capital returned to shareholders as a percentage of market capitalization is inversely related to growth potential for reinvestment opportunities, with companies like META and MSFT showing faster growth but lower capital returns [5] Group 2: Financial Fundamentals - Apple's revenue growth is reported at 6.0% for the last twelve months (LTM) and an average of 1.8% over the past three years, with a free cash flow margin of approximately 23.5% and an operating margin of 31.9% LTM [10] - The company is currently trading at a price-to-earnings (P/E) ratio of 38.3, indicating a higher valuation compared to the S&P, alongside superior revenue growth and better margins [10]