Apple CEO Tim Cook has admitted his company has too much cash lying around. Way too much. In fact, it has nearly $100 billion just resting in the bank. Cook has said that it’s unncessary to have that much dough without doing anything with it. He noted that it should be spent on advancing the company. Apparently is has come up with a solution.
That solution will, assumedly, be announced tomorrow. Apple has invited media and analysts to a conference call tomorrow. The call will be held tomorrow at 9:00 AM Eastern Time. In the description of the call, Apple says that CEO Tim Cook and CFO Peter Oppenheimer will be discussing the state of its cash reserves. Expect a lot of news, since it’s scheduled to last three hours.
According to the conference call announcement, Cook and Oppenheimer will “announce the outcome of the Company’s discussions concerning its cash balance. Apple will not be providing an update on the current quarter nor will any topics be discussed other than cash.” One of the questions is whether or not Apple might reinstate its dividends to stockholders. The last dividend was paid in 1995.
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