Apple CEO seeks ‘patience’ from investors on $98-billion cash hoard

[Newsjock]

Source: Reuters

Apple Inc. is in very active discussions at the board level about what to do with its cash, Chief Executive Tim Cook said on Tuesday, responding to calls for the world’s most valuable electronics company to put its massive reserves to work.

... Investors are increasingly calling on Apple to return some of its $98-billion war chest to shareholders through dividends or share buybacks – even if it is only a one-time deal.

On Tuesday, Cook, who took over from Silicon Valley icon Steve Jobs last August, urged investors at a Goldman Sachs technology conference to be patient about the cash reserves.

“I only ask for a little bit of patience, so we do this deliberately and in the best interest of shareholders,” Mr. Cook said.

Read more: http://www.theglobeandmail.com/news/technology/business-technology/apple-ceo-seeks-patience-from-investors-on-98-billion-cash-hoard/article2338981/

[denverbill]

1. I.e., we are waiting for the US govt to give us a tax break before we pull this money back to the US

[tridim]

2. Yep, they're trying to figure out how to give it to rich people who don't need it.

Par for the fucking course.

Here's an idea Apple.. Build 10 massive manufacturing plants in 10 different states and hire Americans to build your premium-priced widgets. Crazy idea, I know.

[DCKit]

3. An excellent idea!

With all the fallout over FoxConn, Apple is looking to see their sales decline. They'd better make some kind of PR effort.