Apple Sitting on Extraordinary Pile of Cash
As in, it holds 10% of all corporate cash out there
By John Johnson, Newser Staff
Posted Oct 1, 2013 6:21 PM CDT
   (Shutterstock)

(Newser) – Apple CEO Tim Cook had dinner with billionaire investor Carl Icahn last night, and Icahn gave him an earful: He says he "pushed hard" for a $150 billion buyback for shareholders, reports Bloomberg. And as a new Moody's analysis shows, the company is sitting on an enormous cash hoard—$147 billion, which accounts for 10% of all corporate cash, reports the Wall Street Journal. (Or at least cash held by nonfinancial companies.) That's almost double the $77 billion held by second-place Microsoft. The buyback is a "no-brainer," says Icahn.

"I feel very strongly about this," he tells CNBC. "I can't promise you the stock will go up and I can't promise you they will do the buyback. But I can promise you that I'm not going away until they hear a lot more from me concerning this."

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Showing 3 of 32 comments
Econ_101
Oct 13, 2013 3:46 PM CDT
You sure ? Or are you ready to drive the US econ. down to Hell with out the basket !! It wouuld be easier to tell everybody GET A JOB !!!
Occupytheworldnow
Oct 2, 2013 4:22 PM CDT
Simply make a law that for every Million dollars a company has, invested or cash, they must employ 1000 additional full-time employees. That should help lower unemployment.
Gsancheezy
Oct 1, 2013 11:18 PM CDT
The cash is offshore and untaxed. Buying back shares would expose it to US taxes. That's why it hasn't been done. Idiot comments about this matter don't cut it.