“Apple Inc is in very active discussions at the board level about what to do with its cash, Chief Executive Tim Cook said on Tuesday, responding to calls for the world’s most valuable electronics company to put its massive reserves to work,” Poornima Gupta and Noel Randewich report for Reuters.
“Investors are increasingly calling on Apple to return some of its $98 billion warchest to shareholders through dividends or share buybacks – even if it is only a one-time deal,” Gupta and Randewich report. “On Tuesday, Cook, who took over from Silicon Valley icon Steve Jobs last August, 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,” Gupta and Randewich report. “He joked that Apple will not be holding any toga parties with the money. ‘It is not new that we are discussing it. It is being discussed more and in more detail.'”
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