“I bought my first Apple computer in 1984,” Stephen Mayo writes for Seeking Alpha. “It was the Mac Plus, the revolutionary computer that made popular the idea of icon based user interfaces.”
MacDailyNews Note: The Mac Plus wasn’t introduced until January 16, 1986.
“The stock, at the high for the year, would have cost me about $2,800.00… about the price of the computer,” Mayo writes. “Over the years I’ve bought more Macs than I can even remember. So it is pretty clear that if I’d just matched each purchase of product with an equal purchase of stock I’d be, by my modest standards, independently wealthy.”
“So why didn’t I do that? I’m stupid, clearly,” Mayo writes. “So why am I now buying my first shares of Apple?”
“Apple has more cash on hand than the United States government, and just about any government in the world Mayo writes,” Mayo writes. “As of April 23, 2014 Bank of America claimed Apple has twice as much cash on hand as the U.S. Government [sic government].)”
“Apple appears to be on the verge of a long run of dividend increases making it a possible Dividend Monster,” Mayo writes. “In fact, given the company’s unique history, would it surprise anyone if in twenty years it was the single best dividend stock in the history of the market?”
More reasons why Mayo bought AAPL in the full article here.
MacDailyNews Note: Apple’s board of directors has declared a cash dividend of $.47 per share of AAPL common stock. The dividend is payable on August 14, 2014, to shareholders of record as of the close of business on August 11, 2014.