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Old Feb 7, 2013, 03:47 PM   #1
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Apple Issues Statement About Returning Cash to Shareholders




Apple has issued a press release reiterating its commitment to return some of its extremely large cash pile to shareholders, saying that Apple management and the Board of Directors are in "active discussions" about how to return cash to shareholders.

This follows letter sent to Apple shareholders this morning by Greenlight Capital [PDF], a major Apple shareholder, arguing that the company "must examine all of its options to unlock the growing value of its balance sheet".

Apple's statement:
Quote:
By early last year, Apple's cash balance had built to a point beyond what we needed to run our business and maintain flexibility to take advantage of strategic opportunities, so we announced a plan to return $45 billion to shareholders over three years. As of next week we will have executed $10 billion of that plan.

We find ourselves in the fortunate position of continuing to generate large amounts of cash, including $23 billion in cash flow from operations in the last quarter alone.

Apple's management team and Board of Directors have been in active discussions about returning additional cash to shareholders. As part of our review, we will thoroughly evaluate Greenlight Capital's current proposal to issue some form of preferred stock. We welcome Greenlight's views and the views of all of our shareholders.
Apple's stock price rose sharply in the minutes following the release.

Article Link: Apple Issues Statement About Returning Cash to Shareholders
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Old Feb 7, 2013, 03:49 PM   #2
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Randy Moss would approve of the Straight Cash Homey.
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Old Feb 7, 2013, 03:50 PM   #3
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In other news, BlackBerry...
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Old Feb 7, 2013, 03:50 PM   #4
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What about their loyal customers?
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Old Feb 7, 2013, 03:50 PM   #5
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Trying to decide if I should buy some more AAPL.
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Old Feb 7, 2013, 03:50 PM   #6
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The timing is perfect. They are giving the money back because they have "Too" much money in cash reserves. Meanwhile, Dell is going private.

Michael Dell - "What would I do? I'd shut it down and give the money back to the shareholders"

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Old Feb 7, 2013, 03:52 PM   #7
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Did anyone say "PR Department opening up!"
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Old Feb 7, 2013, 03:52 PM   #8
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How about giving the staff, including retail, a bonus. We never get bonuses, and in my store all we were got for christmas was a small bag of peanuts!
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Old Feb 7, 2013, 03:52 PM   #9
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Apple sits on SO MUCH money. Can they possibly ever spend it all?
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Old Feb 7, 2013, 03:52 PM   #10
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Anything that can shield Apple from the crazy mood of the stock market is a good thing. Their value keeps going up and down because of a few insane people who keep writing stupid rumors and predicting out-of-this-world profits based on wishful thinking.
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Old Feb 7, 2013, 03:53 PM   #11
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Following in the footsteps of Dell....

I wonder if Apple is also trying to distance itself from the perceived risk of increasing volatility in stock prices?
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Old Feb 7, 2013, 03:54 PM   #12
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Is it really "giving money back to shareholders", since that money didn't come from the shareholders, but from the people who bought their products? When investor buys a share in a company, the money does not go to the company in question, but to the investor he bought the share from. Unless he took part in the IPO that is.
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Old Feb 7, 2013, 03:54 PM   #13
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Quote:
Originally Posted by ogee View Post
How about giving the staff, including retail, a bonus. We never get bonuses, and in my store all we were got for christmas was a small bag of peanuts!
Is that a literal bag of peanuts?
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Old Feb 7, 2013, 03:55 PM   #14
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Thanks for the free stock Bump activist dude.

hahaha... hey, Einhorn, next time RTFA of Incorporation before sueing. dumbass.
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Old Feb 7, 2013, 03:55 PM   #15
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Originally Posted by Yvan256 View Post
Anything that can shield Apple from the crazy mood of the stock market is a good thing. Their value keeps going up and down because of a few insane people who keep writing stupid rumors and predicting out-of-this-world profits based on wishful thinking.
Explain to me why you care.
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Old Feb 7, 2013, 03:57 PM   #16
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Old Feb 7, 2013, 03:57 PM   #17
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They could indirectly give the money back to the shareholders by buying back stock. Less available stock usually raises the price, giving people value, at least on paper.

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Old Feb 7, 2013, 03:58 PM   #18
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hahaha... hey, Einhorn, next time RTFA of Incorporation before sueing. dumbass.


I'm not liking Einhorn's involvement in this. I just hope guys like this don't Bain Apple.
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Old Feb 7, 2013, 03:58 PM   #19
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I didn't see that coming....
On another note...
"We find ourselves in the fortunate position of continuing to generate large amounts of cash, including $23 billion in cash flow from operations in the last quarter alone. "
That's a lot of $$$$.
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Old Feb 7, 2013, 03:59 PM   #20
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I have stopped paying attention to the stock because it seems like any good news about Apple makes the stock go down, but can someone explain to me why this statement made it shoot up 10 points? It's not like people didn't already know about this.
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Old Feb 7, 2013, 03:59 PM   #21
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What about their loyal customers?
Their loyal customers buy stock.
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Old Feb 7, 2013, 04:02 PM   #22
iMikeT
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Quote:
Originally Posted by spiderman0616 View Post
I have stopped paying attention to the stock because it seems like any good news about Apple makes the stock go down, but can someone explain to me why this statement made it shoot up 10 points? It's not like people didn't already know about this.


It's to give even more money back so investors. Possibly in higher dividend yields or a buyback. So people get in on it and rocket the stock price.
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Old Feb 7, 2013, 04:03 PM   #23
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Originally Posted by Val-kyrie View Post
Following in the footsteps of Dell....

I wonder if Apple is also trying to distance itself from the perceived risk of increasing volatility in stock prices?
Quote:
Originally Posted by macnerd93 View Post
The timing is perfect. They are giving the money back because they have "Too" much money in cash reserves. Meanwhile, Dell is going private.

Michael Dell - "What would I do? I'd shut it down and give the money back to the shareholders"

Backfire
Both beat me to a Dell comment - well played/bravo.
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Old Feb 7, 2013, 04:07 PM   #24
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What about their loyal customers?
You get great tech that is so awesome that you buy more. If you want money perhaps you should use that tech for something profitable
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Old Feb 7, 2013, 04:08 PM   #25
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Trying to decide if I should buy some more AAPL.
Did that now is the time !
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