Apple to decide fate of its $100 bn cash surplus
Apple Inc seems to be finally ready to share some of its cash pile with its shareholders.
A CNET report said top Apple executives will discuss its nearly $100 billion cash balance over a conference call today.
The discussion is likely to be around handing out dividends to its shareholders, the report said.
Apple’s share price hit $600 for the first time as hundreds of people in Sydney lined up around the city before dawn to be the first ones to lay their hands on the new iPad 3.
Australian phone company Telstra took an early lead and started selling the new 4G ready tablets at midnight, eight hours before Apple’s flagship store did.
According to media reports, as the new iPad went on sale the company’s stock went up 47 percent for the year and nearly 10 percent for the month. At Thursday's closing price of $585.56, the stock was far more expensive than the $499 starting price for a Wi-Fi iPad.
Last month, Apple became only the sixth company in U.S. history to top $500 billion in market capitalization.