Apple to 'evaluate' hedge fund's cash demand

(Credit: James Martin/CNET)

Following a complaint from a notable Apple investor that the company needs to share more of its cash pile with investors, the iPhone and Mac maker says it's "evaluating" its possibilities.

In a statement today, Apple said it's aware it's cash has grown beyond what it needed to run day to day business -- hence its dividend and stock buyback plan -- but that it was still talking about possible options down the line.

"Apple's management team and Board of Directors have been in active discussions about returning additional cash to shareholders," the company said this afternoon, just before the close of trading on Wall Street. "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."

The company added that it had found itself "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."

We find ourselves in the fortunate position of continuing to generate large amount... [Read more]





by Josh Lowensohn via CNET