Apple Inc. (NASDAQ:AAPL) cash pile is rapidly expanding. Many people have questions about what Apple would be doing with such an enormous amount of cash on hand. But now it seems all the speculations would come to an end as the Cupertino-based tech giant will reveal the answer within a few hours from now.
Apple’s stock is currently trading at $585 and it went high at $600 just a day before new iPad’s release date. The company has held a media conference to discuss the plans for its $100 billion in cash reserves. The announcement will start at 6AM Pacific / 9 AM Eastern time, and the conference will be hosted by Apple CEO Tim Cook and Apple CFO Peter Oppenheimer
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The conference will solely be about “the outcome of the Company’s discussions concerning its cash balance,” the company clarified. There are many speculations as to what Apple’s planning to do with their $100 billion cash stockpile. With such a cash, they can buy their competitors or other tech giants and can also announce dividends for its shareholders. If they announce dividend then the shareholders are going to be the most happy people and this would increase the value of Apple further.
With such an enormous amount, they can buy Facebook at its current valuation and can end world hunger for three years according to UN estimates. Surprisingly, the cash is more than the U.S. Treasury’s operating cash balance. Currently, everyone has an eye on Apple and is anxiously waiting for their conference.
The company will be streaming the call live on its QuickTime streaming site. It will also be available for replay for approximately two weeks thereafter. Windows users would need to install QuickTime for viewing it.
Apple’s full press release:
WHAT: 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. Apple® will not be providing an update on the current quarter nor will any topics be discussed other than cash.
WHERE: Via conference call. The dial-in number for press is (877) 616-0063 (toll-free) or (719) 219-0041. Please enter confirmation code 592016.
WHEN: Monday, March 19, 2012 at 6:00 a.m. PDT/9:00 a.m. EDT
REBROADCAST: The conference call will be available as a continuous rebroadcast beginning Monday, March 19 at 9:00 a.m. PDT/12:00 p.m. EDT through Monday, April 2 at 9:00 a.m. PDT/12:00 p.m. EDT. The dial-in number for the rebroadcast is (888) 203-1112 (toll-free) or (719) 457-0820. Please enter confirmation code 6274937.
WEBCAST: Apple will provide live audio streaming of its conference call using Apple’s industry-leading QuickTime® multimedia software. The live webcast will begin at 6:00 a.m. PDT on March 19, 2012 at www.apple.com/quicktime/qtv/call31912 and will also be available for replay for approximately two weeks thereafter. The webcast is available on any iPhone®, iPad®, iPod touch® or any Mac® or PC running QuickTime 6 or later. If you do not have QuickTime installed on your Windows PC, it is available at www.apple.com/quicktime.
This recording is the property of Apple and protected by U.S. copyright law and international treaties. Any reproduction or distribution is strictly prohibited without prior written approval from Apple. Please contact Apple Public Relations or Investor Relations with any questions.