Apple issued a rare media alert Sunday saying it would announce how it would spend its mountain of cash holdings ($97.6 billion). This morning, CEO Tim Cook said nearly half, $45 billion, would do to paying a dividend, which it hasn't done since 1995.
Naturally, before the announcement was made, the social media universe had a fun time Sunday night speculating what it could buy. Some thought it would invest in Twitter, as it recently streamlined the the process of sending out tweets into their updated iPhone operating system. However, this morning it was clear that they weren't going to take over a giant Internet firm...or, an entire country for that matter (Apple's holdings dwarf the GPD of many countries) Do you think Apple should issue dividends? Or, perhaps, buy a major Internet company?
With its $100B in cash, Apple could buy pretty much ALL of Hollywood & have $30B left over: techcrunch.com/2012/01/26/app…
— Bill Gross (@Bill_Gross) March 19, 2012
Apple to reveal Monday its plans for the $100B in cash it's been hoarding. Stock dividend? Platinum iPhones? nytimes.com/2012/03/19/tec…
— Jeff Elder (@JeffElder) March 19, 2012
with its $97.6 billion in cash and investments, apple could buy amazon (market value of $84.2 billion) - nyti.ms/A1wxBR
— Kurtis Evon (@prettycoolkid) March 19, 2012
What will Apple do with $100B cash? It could buy ALL of Apple Corp. of March, 2009! chi.me/FPyBXM #3AmazingYears
— Bill Gross (@Bill_Gross) March 18, 2012
Dear Apple: I have lots of companies that you could buy with that cash. Pretty sure all of them accept US Dollars. Lemme check.
— Chris Sacca (@sacca) March 19, 2012