Bloomberg is reporting on remarks made by Apple CEO Steve Jobs during the company’s shareholder meeting held yesterday regarding Apple’s massive (and growing) cash reserves. Jobs claims these cash reserves will be used for future investments that shareholders will see a better return on compared to simply returning money to shareholders. Apple Inc. Chief Executive […]
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Apple to Use Cash Reserves for "Bold" Moves

Bloomberg is reporting on remarks made by Apple CEO Steve Jobs during the company’s shareholder meeting held yesterday regarding Apple’s massive (and growing) cash reserves. Jobs claims these cash reserves will be used for future investments that shareholders will see a better return on compared to simply returning money to shareholders.

Apple Inc. Chief Executive Officer Steve Jobs said he prefers having cash for investments to paying dividends or doing stock buybacks.

Apple is holding onto cash to take “big, bold” risks, Jobs said at the company’s shareholder meeting today. The company had about $25 billion in cash and short-term investments as of December.

Apple COO Tim Cook earlier this week stated that Apple has looked at acquiring larger companies, but none seemed to fit into the company’s larger strategy. Instead, Apple has opted to buy smaller companies such as Quattro Wireless, and Lala Media, or their technologies and talent.

This falls in line with an earlier report suggesting Apple will be “more aggressive” with company acquisitions in the future.

Lastly, All seven members of Apple’s Board of Directors were re-elected by shareholders.

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