News Article

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.’”

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