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.
Black Friday sales are continuing today with Best Buy kicking off early Black Friday deals that will last for the next few days. Similar to other retailers, Best Buy's early Black Friday event includes sitewide savings on Apple products, headphones, TVs, monitors, video games, and more.
Note: MacRumors is an affiliate partner with Best Buy. When you click a link and make a purchase, we may...
Friday November 8, 2024 7:06 am PST by Joe Rossignol
Apple has returned to using two 128GB storage chips in the new Mac mini with 256GB of storage, according to a partial teardown video shared on social media today. This means the base-model Mac mini with the M4 chip will not have significantly slower SSD speeds compared to higher-end configurations of the computer with 512GB, 1TB, or 2TB of storage, as multiple NAND chips allows for faster SSD...
Monday November 11, 2024 11:28 am PST by Joe Rossignol
Apple today released firmware updates for both AirPods 4 models (version number 7B20) and the AirPods Pro 2 with both Lightning and USB-C charging cases (version number 7B21). All of these AirPods models were previously on firmware version 7B19.
It is not immediately clear what new features or changes are included in firmware versions 7B20 and 7B21, but we will update this story if we find...
Sunday November 10, 2024 12:13 pm PST by Joe Rossignol
In its announcement video for the new Mac mini last month, Apple teased an "upcoming" version of Final Cut Pro for the Mac. Apple will likely announce the update during the annual Final Cut Pro Creative Summit, which begins this Wednesday. The conference is held in association with Apple, and attendees will be visiting Apple Park on the first day.
Apple already teased four new features...
Monday November 4, 2024 12:34 pm PST by Juli Clover
Apple today seeded the second betas of upcoming iOS 18.2 and iPadOS 18.2 updates to developers, and Apple is continuing to refine the Apple Intelligence capabilities. There are also a handful of smaller features that are worth knowing about.
Find My
Find My has a new option to Share Item Location with an "airline or trusted person" that can help you locate something that you've misplaced....
Next year's iPhone 17 "Air" model may not be as thin as Apple planned, according to a rumor originating in Korea.
According to the news aggregator account "yeux1122" on Naver, citing industry sources, Apple has run into problems making the new iPhone 17 model sufficiently thin. The device's reduced thickness is apparently dependent on manufacturing a battery with a thinner substrate, but...
Thursday November 7, 2024 2:20 pm PST by Juli Clover
Law enforcement officials in Detroit, Michigan are warning other police officers about an alleged iPhone change that causes Apple devices stored for forensic examination to spontaneously restart, reports 404 Media.
iPhones that are undergoing examination have apparently been rebooting, which makes them harder to unlock with brute force methods, and Michigan police think that it's due to a...
Friday November 8, 2024 12:21 pm PST by Juli Clover
Apple launched the new Mac mini, iMac, and MacBook Pro models with M4 chips today, and because the Mac mini is the only one of the machines that got a design update, we thought we'd check it out to see how it compares to the prior version.
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The 2024 version of the Mac mini is much smaller than the previous M2 model, so it takes up...
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.