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

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. He acknowledged that those big dollar items still aren’t making much of a dent. In 2011, Apple acquired Israel-based flash memory company Anobit for $390 million and 3D mapping company C3 Technologies for $267 million. Cook said that since becoming CEO, he has adhered to the traditional Apple approach of not simply spending for the sake of spending but added that he is not religious about holding onto the money.

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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.

 

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

Myanmar

Digital Revolution and Repression in Myanmar and Thailand

Activists have also proactively published social media content in multiple languages using the hashtags #WhatsHappeningInMyanmar and #WhatsHappeningInThailand to boost coverage of events on the ground.

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By Karen Lee

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Following the February 1 coup, Myanmar’s netizens became the latest to join the #MilkTeaAlliance, an online collective of pro-democracy youth across Asia.

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Ecommerce

How will oil prices shape the Covid-19 recovery in emerging markets?

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How will oil prices shape the Covid-19 recovery in emerging markets?
– After falling significantly in 2020, oil prices have returned to pre-pandemic levels
– The rise has been driven by OPEC+ production cuts and an improving economic climate
– Higher prices are likely to support a rebound in oil-producing emerging markets
– Further virus outbreaks or increased production would pose challenges to price stability

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A combination of continued production cuts and an increase in economic activity has prompted oil prices to return to pre-pandemic levels – a factor that will be crucial to the recovery of major oil-producing countries in the Middle East and Africa.

Brent crude prices rose above $60 a barrel in early February, the first time they had exceeded pre-Covid-19 values. They have since continued to rise, going above $66 a barrel on February 24.

The ongoing increase in oil prices, which have soared by 75% since November and around 26% since the beginning of the year, marks a dramatic change from last year.

Following the closure of many national borders and the implementation of travel-related restrictions to stop the spread of the virus, demand for oil slumped globally.

In the wake of the Saudi-Russia price war in early 2020, Brent crude prices fell from around $60 a barrel in February that year to two-decade lows of $20 a barrel in late April, as supply increased and demand plummeted. The value of WTI crude – the main benchmark for oil in the US – fell to record lows of around $40 a barrel last year on the back of a lack of storage space.

While global demand for oil remains low, one factor credited with reversing the trend is the decision to make significant cuts to oil production, which subsequently tightened global supplies.

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Tech

How the Rural-Urban Divide Plays Out on Digital Platforms

It is one thing for entrepreneurs, whether urban or rural, to create and operate an online store, as some digital platforms have made it relatively easy to manage an e-store – even by using just a smartphone.

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In the West, villages are emptying out due to the lack of economic opportunities. Consider Italy where, in a bid to attract newcomers, a handful of municipalities have turned to selling houses for €1.

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