“Apple Inc., the world’s most valuable company, is ‘more likely than ever’ to return money to shareholders in the form of a stock buyback or dividend, according to Morgan Stanley,” Adam Satariano reports for Bloomberg.
“Apple is able to finance a $25 billion share repurchase program or a 2.4 percent dividend using its available cash, said Katy Huberty, an analyst for Morgan Stanley in New York,” Satariano reports. “Apple has $76 billion in cash and investment holdings, equivalent to about $81 a share, which could be used to fund the effort.”
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Satariano reports, “Last October, when Cupertino, California-based Apple had $51 billion in cash and long-term investments, Steve Jobs said it was keeping its “powder dry” in case an opportunity comes along. ‘We’ve demonstrated a really strong track record of being very disciplined with the use of our cash,’ Jobs said on Oct. 18 during a conference call with financial analysts. ‘We don’t let it burn a hole in our pocket.'”
Read more in the full article here.
MacDailyNews Take: Hopes and dreams in notes to clients do not reality make — especially from one of the worst AAPL analysts on the planet.
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