Apple has the best kind of problem: A sizable $90 billion in cash burning a hole in its pocket. At the Goldman Sachs Technology and Internet Conference Tuesday, Apple CEO Tim Cook was asked why the company has not taken the usual moves of buying back stock or issuing a dividend to shareholders. Investors, while happy with the epic stock price, are eager for a payout.

Cook acknowledged that deciding how to best spend that money is a major topic being discussed within Apple. “I only ask for a bit of patience so we can do this in a deliberate way and do it in a way that’s best for shareholders,” said Cook.

“We’re judicious, we’re deliberate, we spend our money like its our last penny … We’re not going to go have a toga party or do something outlandish.”

When a company is sitting on a huge pile of cash, as Apple is, it is expected to shell out a dividend to investors and to spend money on things that will make it even more money. Cook said that so far, the company has spent billions of dollars on its supply chain, intellectual property, acquisitions, retail, and the Apple infrastructure.


Original link –

Apple’s plans for its $90B in cash: “We’re not going to have a toga party”

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

New investment makes LINE MAN Wongnai Thailand’s largest tech startup

LINE MAN Wongnai was established in 2020 from the merger of LINE MAN, Thailand’s No. 1 on-demand assistant app, and Wongnai, a restaurant review platform. The company aims to be the most innovative e-commerce platform for services in Thailand

China continues to lead global e-commerce market with over $2 trillion sales in 2022

China accounted for over 37% share in the global e-commerce market, in terms of payments value in 2021. The country was followed by the US with $1.5 trillion, while the UK stood at a distant third with $292.1 billion in 2021

Amazon to invest 190 billion baht ($5 billion) in cloud Infrastructure in Thailand

New AWS Asia Pacific (Bangkok) Region will allow customers to run workloads and securely store data in Thailand while serving end users with even lower latency AWS plans an estimated investment of more than $5 billion (190 billion baht) in Thailand over 15 years