“Apple may finally do something big with some of its $137 billion cash pile, said Bill Miller, portfolio manager of Legg Mason Capital Management,” CNBC reports. “‘I do think they are going to do something fairly dramatic on capital allocation,’ Miller said on CNBC’s ‘Squawk Box’ on Friday. ‘I talked to them about this a few weeks ago. They are actively, as they said, ‘soliciting input.'”
“Miller said he cut his position in Apple ‘close to the highs”‘ last fall, but is now overweight on Apple,” CNBC reports. “In late February, at Apple’s annual shareholder meeting, CEO Tim Cook said the company is ‘seriously considering’ returning cash to shareholders, but the company has not confirmed any specific plans.”
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