“Apple CEO Tim Cook will be under pressure to answer questions about what the tech giant plans to do with its $137 billion cash load while at the company’s annual shareholder meeting Wednesday,” Cadie Thompson reports for CNBC.
“At the meeting last year, Apple could point to the stock as a place for investors to find returns, but that strategy is unlikely to appease shareholders this year as pressure mounts about Apple’s fallen stock price and the company’s plans regarding what it has in store for its massive cash balance,” Thompson reports. “While Apple is now paying out a dividend and has a multiyear stock buyback plan in place, the iPhone maker is not doing enough for shareholders’ return on investment, according to Greenlight Capital president David Einhorn.”
Thompson reports, “Cook has said Apple would ‘thoroughly consider’ Einhorn’s proposal to return cash to shareholders, but has not revealed details about how the company plans to do so. The meeting gives the company the perfect opportunity to shed more light on its cash strategy.”
Read more in the full article here.
Analysts: Apple may crack open its massive, bulging wallet for shareholders – February 8, 2013