Buybacks for companies in the S&P 500 index have been steadily dropping: They reached $120.1 billion in the second quarter, which is off 5.8 percent from the year-ago period, when companies repurchased $127.5 billion of their own stock. It's also down 9.8 percent from the first quarter of 2017.
One area where buybacks actually increased was the technology sector. Tech spent $27.6 billion on buybacks in the quarter, up 0.5 percent from the first quarter of 2017. Tech represents 23 percent of all buybacks, according to S&P.
On the other hand, there's Apple. The largest company in the economy by market capitalization, Apple spent "just" $7.1 billion on buybacks in the second quarter, down from $10.2 billion in the second quarter of 2016.
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