Apple recently announced a record-breaking $110 billion share buyback plan

This surpasses Apple's own previous record of $100 billion in share repurchases authorized in 2018

The massive buyback comes amid challenging earnings for the company

Apple reported a 10% decline in iPhone sales, suggesting weak demand for its latest iPhone 15 lineup released in September

Despite the drop in its core product revenue, Apple exceeded investor expectations with better-than-estimated sales and a forecast

Despite these headwinds, the record buyback announcement drove a surge of up to 7.9% in Apple's stock price in after-hours trading