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Apple to return $200bn on iPhone boom

Apple shares climbed just over 2 per cent to $134.75, as stronger profits and revenues allowed the Silicon Valley company swell its total return to shareholders to 200bn over the next two years - more than almost every Wall Street analyst forecast.

At the same time as announcing the figures, Apple said that it would expand its dividends and buyback scheme to return a total of $200bn to shareholders by the end of March 2017, up from the $130bn programme of a year ago.

That includes a 11 per cent dividend increase and a further $50bn in share repurchases.

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