With its shares down over 10% this year, and iPhone sales down as well, Apple Inc.’s big plan to restore investor confidence is a $110 billion stock buyback and a 4% dividend increase. That larger-than-expected capital return program did assuage investors,

Apple shares popped on Friday after the company reported better-than-expected second-quarter earnings and the largest-ever stock buyback program.

So why were Apple’s shares up 7% in midday trading on Friday? Therese Poletti pointed to a restoration of confidence for investors because the company’s board had authorized an additional $110 billion in stock buybacks.

Apple shares gained ground in premarket trading Friday after the company posted March quarter results that weren’t as bad as the market had feared.For the March quarter, Apple posted revenue of $90.8 billion,

Apple shares went up more than 6% on Friday morning after the company shared its second-quarter earnings report, which was better than expected. They also announced the biggest stock buyback program ever.