Apple to announce cash plans tonightMarch 19 - 12pm 10
It seems Apple’s senior management team have finally made a decision about what to do with the company’s huge and increasingly problematic cash reserves, with CEO Tim Cook and CFO Peter Oppenheimer to reveal their plans to media in a conference call at 9am EDT (2am New Zealand time).
Announced to be worth nearly US$100 billion at the company’s last earnings report, the cash has been a thorn in the company’s side for some time.
Apple can’t do nothing with the money, since investors have a right to try to get more for their investment than it is earning it in the bank.
The other options are paying a dividend to investors, which could cost a fortune in tax, or purchasing some other companies, which could backfire if the acquisitions fail.
Cook has acknowledged the issue several times in his tenure as CEO, promising as early as last month that an answer was close at hand. All will be revealed tonight.