Bloomberg: Apple CEO Seeks to Stem Growth Concern by Returning Cash
On April 24th, Bloomberg published an article regarding Apple’s (NASDAQ: AAPL) recent decline in earnings and Tim Cook’s announcement that the company will increase its quarterly dividend.
Adam Satariano & Peter Burrows write:
“Apple (AAPL) has come under pressure to release a new hit product that can live up to the success of the iPhone and iPad, sending the shares down more than 40 percent since September and wiping out about $280 billion in market value. Cook also took the unusual step of using a conference call with analysts to say that new products are in the works for later this year and through 2014, without giving details.
‘There are a lot of unanswered questions, and that will persist for a while,’ said David Walker, a technology analyst at Boston-based Trillium Asset Management LLC, which manages about $1.3 billion, including Apple shares. ‘This report didn’t give one reason to think this is the floor.’”
You can read the entire article at:
http://www.bloomberg.com/news/2013-04-24/apple-ceo-seeks-to-blunt-growth-concerns-by-returning-cash-tech.html
