Apple CEO Says Company Has More Cash Than It Needs

By: Associated Press
By: Associated Press
Apple CEO Tim Cook knows this much: the world

Apple CEO Tim Cook talking about the iTouch, iPad and iPhone at the company's Cupertino, Calif. headquarters Oct. 4, 2011 (Credit: Associated Press)

CUPERTINO, Calif. (AP) -- Apple CEO Tim Cook knows this much: the world's most valuable company has more money than it needs. But he and the rest of Apple's board are still trying to figure out whether it makes sense to dip into the nearly $100 billion cash hoard to pay shareholders a dividend this year.

Cook indicated the board is nearing a decision during a question-and-answer session Thursday at Apple's annual shareholders' meeting. After acknowledging Apple Inc. doesn't need to hold on to so much cash, he said the board is thinking "very deeply" about how to spend the money.

The hour-long meeting was a mostly jovial affair, even though it marked the first time Apple shareholders have gathered since the company's revered co-founder and former CEO, Steve Jobs, died in October.

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  • by Reagan Republican on Feb 23, 2012 at 03:23 PM
    OWS screams bloody murder when EXXON makes money but they just love Apple over charging for I-phones and using Chinese slave labor and toxic chemicals to make their cute little toys. Hypocrites
    • reply
      by Anonymous on Feb 24, 2012 at 12:24 PM in reply to Reagan Republican
      Dang!! Looks like we had exactly the same thought, at exactly the same time.
      • reply
        by Anonymous on Feb 24, 2012 at 02:42 PM in reply to
        brilliant minds think alike
  • by Anonymous on Feb 23, 2012 at 03:23 PM
    Oil companies are absolute evil. They should be forced to have all their products made in the US and pay high Union wages. All profits should be confiscated and redistributed to the poor, who have been discriminated against because of the overly high prices of the oil companies products.....Oh wait...sorry...misread the headline...thought it said Exxon. Hey, Apple is a great company, it's their right to make tremendous profits...they should be able to manufacture their great, and affordable products, in sweat shops, in any country they choose. Leave Apple alooooonnnnee!
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