Apple to host conference call Monday to discuss its $100B cash balanceApple will host a conference call on Monday at 9 a.m. Eastern, 6 a.m. Pacific to discuss what it plans to do with its $100 billion cash balance.
The company issued a press release at 6 p.m. Eastern on Sunday evening to announce the conference call less than 24 hours in advance. The call will feature Apple Chief Executive Tim Cook and Chief Financial Officer Peter Oppenheimer.
On the call, the company "will announce the outcome of (its) discussions concerning its cash balance." The press release also said that Apple would not provide an update on its current quarter, nor would it discuss any topics other than cash.
Last quarter, Apple's cash hoard grew to nearly $100 billion, prompting a great deal of discussion among investors and analysts. Executives at Apple simply said that they were "actively discussing" what to do with the money.
Last month, at Apple's annual shareholder meeting, investors again questioned Cook about what Apple planned to do with its cash hoard, with some of them pushing for a cash dividend. But Cook wouldn't commit to any such plans and instead repeated his comments that Apple executives were thinking "very deeply" about what to do with its money.
The growth trajectory of Apple's cash hoard, via Asymco.
With its cash, Apple has continued to make strategic investments to bolster its supply chain and also enhance its current product offerings, as it did with the $50 million purchase of App Store search engine Chomp revealed last month.
AppleInsider will have full live coverage of Apple's conference call when it takes place on Monday morning.
On Topic: Investor
- iPad Pro predicted to drive $2.4B in near-term revenue for Apple
- Goldman Sachs sees Apple's transition into services company driving stock to $163
- Hedge fund manager David Einhorn ups stake in Apple stock to 11.7M shares
- UBS sees Apple selling 78.4M iPhones this holiday, growing sales 4% in fiscal 2016
- Solving the mysterious failure of Apple's iPad