Apple could buy back $90B in stock, boost dividend 10%
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Apple (NASDAQ:AAPL) has "modestly" outperformed the stock market, as investors have largely sold off tech stocks on geopolitical and consumer spending concerns, but the tech giant has a number of positives going for it, including boosting its capital return program, investment firm Citi said. 
Analyst Jim Suva, who has a buy rating and a $200-a-share price target, noted that Apple could boost its share buyback program between $80 billion and $90 billion and raise its dividend between 5% and 10% when it reports fiscal second-quarter earnings on April 28.
In addition, any moderation in growth from the App Store is likely to be offset by "continued strength in their advertising network and other ancillary services," Suva wrote in a note to clients.
Apple (AAPL) shares rose more than 2% as trading progressed on Tuesday.
In addition, Suva noted that recent concerns about Apple (AAPL) cutting production is "nothing unusual" at this point in their product cycle as Apple tends to "overshoot" on build product estimates to ensure sufficient supply.
Suva said that potential issues such as increased regulatory matters are not fundamental risks for Apple (AAPL), and any downturn in the company's share price should be seen as a buying opportunity for investors. Suva also noted that the stock price doesn't reflect new product categories, such as the oft-rumored augmented reality headset and a potential car to be unveiled in 2025.
Additionally, Suva said that Apple (AAPL) could start offering its hardware products as a subscription, thereby making its devices more affordable. 
Last week, J.P. Morgan trimmed its iPhone estimates for Apple (AAPL), citing "limited upside" from the latest iPhone SE.
On Tuesday, Pegatron, one of Apple's (AAPL) iPhone makers in China, reportedly shuttered two of its plants as part of new Beijing lockdown policies aimed at curtailing the spread of Covid-19.