“Apple Inc Chief Executive Tim Cook is in an enviable position – market leading products, a $98 billion warchest and a seemingly gravity-defying stock price,” Poornima Gupta reports for Reuters.
“The meeting this Thursday comes days after Apple touched a new lifetime high of $526.29 before receding slightly,” Gupta reports. “The stock may get a boost next month, when Apple is expected to unveil a new version of its best-selling iPad.”
Gupta reports, “Apple shares have seen a blistering rally in the past seven weeks, gaining $100 and making Apple the most valuable U.S. company, with $468 billion in market capitalization… A perennial issue that shareholders zoom in on is Apple’s enormous cash pile. The company now boasts of over $100 a share in cash and securities.”
“Apple’s cash balance is the largest among U.S. technology companies, and many analysts think the company should put at least some of the money to work,” Gupta reports. “The company last bought back shares in 2001 and scrapped its dividend in the mid 1990s. A dividend could give Apple stock a short-term boost as institutional investors – who typically own only stocks that pay dividends – may buy it.”
Read more in the full article here.
MacDailyNews Take: Surely Tim Cook can hardly wait for the usual barrage of self-serving jackassery.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]