But the company says that it is still “fully committed to returning cash to shareholders.”
Carl Icahn gave a post-game report on last evening’s dinner with Apple CEO Tim Cook on CNBC this afternoon. It was…interesting.
Billionaire hedge fund manager Carl Icahn took a big $1 billon stake on Apple. He may end up winning even if he fails to get the company to increase its dividend or share buyback program.
Most of Apple’s $145 billion in cash is parked overseas, so issuing debt allows the company to avoid the tax hit that money would be subject to if brought back to the U.S.