Approximately halfway through 2023/24 the E[nterprise] V[alue] reaches zero, and the company market cap falls below its net cash figure. Technically at this point anyone wanting to own the entire company would be paying a price equivalent to its net cash balance – essentially getting the company for “free”.
At some point in 2029 Apple Market cap falls to zero, or perhaps $97 – as whoever owns the last share technically takes full control of the company (a company with $230 Billion in net cash!).
The point of this post is not to suggest Apple will in reality reach a zero EV (or less). instead it is to point out that the likelyhood of the Apple share price staying where it is (or dropping), is a very unlikely scenario given the current buyback activity. Sooner or later it is going to have to rise significantly.