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Apple to Host Conference Call Monday Concerning its Near $100 Billion Cash Balance
Image from BusinessInsider
Apple issued a media alert indicating that it would be holding a conference call on Monday, March 19th at 6 a.m. PDT/9 a.m. EDT. The conference call will "announce the outcome of the Company’s discussions concerning its cash balance."
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.As of Q1 2012 results, Apple had $96.7 billion in cash and marketable securities, up $16 billion from the prior quarter.
Apple's growing stockpile of cash reserves has been the subject of much speculation. When questioned during the Q1 2012 results, Cook said that Apple was "actively discussing" uses of the cash balance and that they are "not letting it burn a hole in our pocket."