Today, Apple CEO Tim Cook will be holding a conference call at 1pm (UK time) to discuss plans for the company’s massive amounts of cash reserves.
Due to the crazy high margins that Apple are able to put on iOS devices, the company is now richer than most countries with an estimated $100 billion (£60 billion) in cash.
Today’s call will be streamed live to all iOS devices as well as any PC with QuickTime 6 installed.
Yachts For Everyone!
Apple’s press website released a statement recently saying:
“Tim Cook, Apple’s CEO, and Peter Oppenheimer, Apple’s CFO, will host a
conference call to 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.”
So, what do you think? Will all the Stockholders get a Yacht? Will Apple submit plans to build a death star (it’s only a matter of time)? Perhaps they will buy the moon, rename it to ‘iMoon’ then charge people to look at the iMoon through special iMoon compatible goggles… or they could do a Bill Gates and give it all to Africa. Tune in today at 1pm to find out!
Update – Plans Revealed!
If you were expecting Apple’s plans for building a death star or purchasing the moon to be released, today’s live conference may have been a bit of an anti-climax.
Instead, Apple are planning a $10 billion share repurchase program. Great news if you’re are lucky enough to own some Apple shares (which are priced today at $585 each) because you can look forward to recieveing some tasty dividends (something the company has not done since 2005).
According to reports, the reason Apple have decided to do this now is that no matter how much they try to spend, they just keep making more. Poor Apple… They could at least send some our way!