He's saying Apple should use their mountain of cash to buy EVEN MORE of their what I personally believe to be overpriced stock.
But we are not even close to overpriced based on 1)being half off the all-time high set 23 months ago
2)company ramping up its biggest growth ever over the next 28 months.
Coach does it as well. Buys back stock AND returns money to investors for 7 years straight now(they have bought back 4.3B+ worth of stock over the last 7 years and have returned money in the form of increasing dividends the last 5).