According to Chief Executive Tim Cook, Apple is in active discussions at the Board level on how to utilize the cash reserves of the company. In a rare appearance before investors Cook talked about the ‘astounding’ potential of iPad and how he foresaw tablet computers in surpassing PC in unit sales eventually eroding Microsoft’s Windows dominance.
Apple’s shares rose close to $509.46 on Nasdaq, setting a record high on hopes of strong demand of iPhone 4S and investor optimism of soon to be launched iPad 3. The investors are asking Apple to return some of its warchest of $98 billion to its shareholder through dividends or share buy-back.
On Tuesday, Cook urged investors at GoldmanSachs technology conference to be patient –
I only ask for a lttle bit of patience, so we do this deliberately and in best interest of shareholders.
In a conference, Tim also said that they like to invest their cash as if it is the last penny of the company. Let your comments flow as to what Apple would do with its cash reserves.