“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.
Related article:
Analysts: Apple may crack open its massive, bulging wallet for shareholders – February 8, 2013
FCK Einhorn. He is a global disease.
Correction… More like a global plague.
Apple has plenty of cash. Why does it need to scare Wall Street ? The more AAPL drops , the more AAPL can buy back . Isn’t it what Tim cook want?
This is the problem with people. You start giving them things like dividend and stock buyback programs and they always want more.
Hasn’t Einhorn bankrupted enough companies and barely escaped prosecution? Someone should tell him to just fuck off.
You are just as guilty as you are accusing. “barely escaped prosecution” Citation needed.
If Tim were Steve, he would tell the assembled shareholders to enjoy their Apple products and tell the financial analysts to shut the f*** up.
I would settle for ANYONE at Apple going head to head with the old crap and slanted reporting that I hear every day now. With just a little knowledge anyone would be able to smell the BS before the analysts open their mouths.
Just this morning, Bloomberg had a chart of iPhone 4S sales showing that they dropped off the last 2 quarters of 2012. Never showed or talked about the iPhone 5 that took it’s place. Really. No one at Apple able to take a little time and show this crap for what it is.
only if Timmy have big left and right nuts, so far he shows little.
Tim should announce additional $50 billion share buy back and
no iPrefs to Einhorn.
Tim is certainly not Steve, but he already has referred to Einhorn’s tactics as ‘a silly sideshow’ to Goldman Sachs last week. I give him credit for that. I like to see him ruffle Wallstreet’s feathers a little more. Those morons deserve it.
A serious financial system would have already banned someone like Einhorn from trading after his previous stunts and highly publicized shorts.
All he cares about is how we’ll load himself with a company’s cash and then moves on to the next target.
Wow, now it’s all clear, this is a conspiracy!
Looks like this was organized, first cause a massive sell-off by dumping your stock and spreading rumors, then sue the company and ask for their pile of cash because the stock is not doing great
“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,”
He’s under pressure for a lot more than this. It all won’t come out in this week’s meeting but unless AAPL recovers he should not be around to face the music next year. Those in denial can continue to use profane and obscene words to attack me but I’m looking better with every passing day. Every day.
You’ve been doggedly making the case against Tim Cook for a while now, and while Apple faithful dislike having their new leader castigated, they like even less his passivity in the face of leering, taunting, menacing creatures in the wild who seem to easily tip investor sentiment into the doldrums with a word, a glance, or a rumour, and abhor his aloofness with respect to the yellow journalists. Steve Jobs would have stared them down, or made them an irrefusable offer, or ripped them a new one.
So we wait. Tomorrow, at the stockholders’ meeting, Tim Cook had better become Tim Burton, or Shane, otherwise some of us may nominate you as a replacement.
+1
I would be all for Apple going private.
Pipe dream I know, but if they could be free to do what they do best without the duche circus that is Wallstreet, I’m all for it.
It’s simple they need to do some image marketing. The brand is damaged.
Apple’s cash has really exploded just in the last couple of years. I have no problem with Apple being cautious about increasing dividends. I’m not much interested in a stock buy back program. They don’t seem effective.
The big danger in all this nonsense is that if the management and decisions making at Apple becomes driven by “returning value for the shareholders ” and not by making great products, then the show is over and the company is screwed. It will become just like any other company and eventually all the crappy products it makes will make the shareholders jump ship and the company will linger and die – Steve’s worse nightmare. Somehow Tim Cook has got to tell the shareholders what Steve would – go f–k yourselves and still seem like he’s tuned to their needs and concerns. Either that or go private. Good luck with that Tim.
What Apple Inc. does with its cash hoard is entirely its ‘own business’. Exactly what part of this basic right is so difficult for parasitic opportunists to understand?