“David Einhorn’s iPrefs proposal was among the factors that influenced Apple’s decision to launch one of the biggest share buybacks in history,” John Paczkowski reports for AllThingsD.
“Now that Apple has abandoned the Depression-era grandmother mentality with which it managed its cash hoard, Einhorn’s view of the company has tempered a bit,” Paczkowski reports. “But not that much.”
Paczkowski reports, “‘I think that that moves Apple’s capital management from a D- to a C or something like that,’ Einhorn told CNBC Thursday. ‘Obviously more could be done that would probably unlock additional value, but it’s not so bad at this point that I really want to complain about it.'”
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