Apple Inc. has announced that it will brief the world tomorrow on what it plans to do with its almost $100 billion in cash.
According to the company, Apple CEO Tim Cook and Chief Financial Officer Peter Oppenheimer will conduct a conference call at 9 a.m. Eastern Monday morning (tomorrow).
A dividend seems to be the front runner. That said, with Apple rumored to have been working on revolutionizing TV, why wouldn't it just pick up a TV manufacturer? I'm assuming that's just a small dent in the $100 billion anyway. Also, I've been reading reports that even if Apple reduced its $100 billion, the company is printing so much cash that it wouldn't take long to start recouping its cash hoard.
What still amazes me is that Apple was in need of a strategy back in 1997, and it was Microsoft that injected $150 million into the company. At the time, Apple's stock was trading at just under $20 per share, and the investment was still not a guarantee that Apple had a solid strategy to succeed. Remember when Office ruled the world? That's what this investment was all about.
Fast forward to present day where Apple's stock is 585! And its iPad (3) can't stay in stock.
Any guesses on what Apple will announce tomorrow?