最近靠宣布股票回购来拉盘也不太行了 S&P 500 Buyback Index, which tracks the 100 companies that spent the most money on repurchases as a percentage of their market value, trailed the broad equity benchmark in April. That reflects concerns about the ability to invest in capital spending or innovation. Should that sentiment hold, buybacks are likely to lose their allure as a stock-picking factor, which may mean the likes of Apple, Alphabet won’t reap the same rewards they used to by simply announcing a buyback program.