Apple's cash: Company to reveal plans for $100 billion bank balance
Apple has said that it will use its open conference call this lunchtime (19 March) to detail what it plans to do with the large piles of cash it has sitting in the bank. The announcement follows a number of calls from investors.
"Tim Cook, Apple’s CEO, and Peter Oppenheimer, Apple’s CFO, will host a conference call to announce the outcome of the Company’s discussions concerning its cash balance," the company said in a statement issued on Sunday, 18 March.
That cash balance is around $100 billion (£60 billion) and gives the firm a great amount of freedom to invest in new products without having to rely on support from lenders or other investors. Not that people have stopped investing - shares are currently around the $600 mark.
Shareholders hope that the company will announce a share dividend, rewarding people for their support. However, many analysts are doubtful that will happen, expecting Apple to tell shareholders that it is just going to sit on the cash instead.
One extremely long shot mentioned is that the company has bought Twitter.
Apple won't, however, be revealing how many new iPads it has sold over the weekend. "Apple will not be providing an update on the current quarter nor will any topics be discussed other than cash," it said.
What do you think Apple will do with its amassed fortune? Let us know in the comments below...