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".
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.
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.
Friday December 1, 2023 12:19 pm PST by Joe Rossignol
iOS 17.2 has been in beta testing for over a month, and it should be released to all users in a few more weeks. The software update includes many new features and changes for iPhones, including the dozen that we have highlighted below. iOS 17.2 is expected to be released to the public in mid-December. To learn about even more features coming in the update, check out our full list. Journal ...
Wednesday December 6, 2023 5:06 am PST by Tim Hardwick
Unidentified governments are surveilling smartphone users by tracking push notifications that move through Google's and Apple's servers, a US senator warned on Wednesday (via Reuters). In a letter to the Department of Justice, Senator Ron Wyden said foreign officials were demanding the data from the tech giants to track smartphones. The traffic flowing from apps that send push notifications...
Tuesday December 5, 2023 11:28 am PST by Juli Clover
Apple today released new firmware update for both the Lightning and USB-C versions of the AirPods Pro 2. The new firmware is version 6B34, up from the 6B32 firmware introduced in November. Apple does not provide details on what features might be included in the refreshed firmware beyond "bug fixes and other improvements," so it is unclear what's new in the update, but prior software releases ...
Tuesday December 5, 2023 11:04 am PST by Juli Clover
The iOS 17.2 update that Apple is set to release to the public in the near future will bring support for the next-generation Qi2 wireless charging standard to the iPhone 13 and iPhone 14 models. Qi2 was mentioned in the release notes for the RC version of the update that came out today. With the addition of support for the new standard, iPhone 13 and iPhone 14 models will work with Qi2...
Wednesday December 6, 2023 2:03 am PST by Tim Hardwick
Apple's Korean suppliers have begun developing smartphone under-display cameras (UDC), paving the way for the first iPhone with a true "all-screen" appearance. According to The Elec, LG Innotek has entered the preliminary development of the UDC, which sits under the display and does not result in a visible hole in the panel when the camera is not in use. A UPC differs from a typical front ...
Tuesday December 5, 2023 1:57 am PST by Tim Hardwick
Meta has revealed plans to end Instagram users' ability to chat with Facebook accounts later this month, rolling back a feature that it introduced over three years ago. In September 2020, Meta (then Facebook) announced it was merging its Facebook Messenger service with Instagram direct messaging, allowing Instagram users to chat with Facebook users and vice versa using the same platform....
Today we're tracking a collection of deals that are matching - or nearly matching - the same all-time low discounts we saw during Black Friday. This includes the AirPods Pro 2 with USB-C, 9th generation iPad, and M1 MacBook Air. Note: MacRumors is an affiliate partner with some of these vendors. When you click a link and make a purchase, we may receive a small payment, which helps us keep the ...
Tuesday December 5, 2023 4:18 am PST by Tim Hardwick
Apple has asked the Indian government to exempt existing iPhones from new rules that require smartphones sold in the country to have a USB-C charging port, reports Reuters. India wants to replicate an upcoming European Union rule that requires all smartphones to implement the USB-C charging standard. However, according to a new report, Apple has told India its local production targets will...
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. 
Top Rated Comments
Michael Dell - "What would I do? I'd shut it down and give the money back to the shareholders"
Backfire :)
Their loyal customers buy stock. ;)