“Apple’s move to tap the bond market, despite sitting on a hoard of cash, will give the tech giant flexibility, former CEO John Sculley said Tuesday,” Katrina Bishop and Seema Mody report for CNBC.
“‘It’s probably a smart thing to do, the access to capital is good. And as we say in the high-tech world: You raise money when you can,’ he told CNBC at the Web Summit tech conference in Dublin,” Bishop and Mody report. “Apple held calls with debt investors on Monday about a potential bond sale, part of which would be denominated in euros.'”
Bishop and Mody report, “‘I think it will just give Apple more flexibility to things they want to do in the future. They can buy their stock back; they can do other things with it,’ Sculley said.”
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MacDailyNews Take: Even a vapid-eyed northern bozo can be right once and a while.
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