“”Apple Inc is in very active discussions at the board level about what to do with its steadily growing hoard of cash and securities, Chief Executive Tim Cook said on Tuesday, responding to calls for the world’s most valuable electronics company to put its massive cash reserves to work,” Poornima Gupta and Noel Randewich report for Reuters.
“Cook, in one of his rare appearances before investors, also talked about a ‘jaw-dropping’ opportunity in smartphones. He also said the iPad tablet trajectory was ‘off the charts,’ adding that he foresaw tablets surpassing the personal computer market in unit sales eventually – eroding Microsoft Corp’s Windows dominance,” Gupta and Randewich report. “Wall Street’s other concern is the likelihood of Apple returning some of its $98 million [sic. Make that “billion,” with a “B.”] warchest to shareholders through dividends or share buybacks – even if it is only a one-time deal.”
Gupta and Randewich report, “On Tuesday, the CEO urged investors at a Goldman Sachs technology conference to be patient about the cash reserves. ‘I only ask for a little bit of patience, so we do this deliberately and in the best interest of shareholders,’ Cook said.”
Read more in the full article here.