Apple’s ‘Very Active’ Cash Talks Won’t Assuage Investors
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Apple Inc. Chief Executive Officer Tim Cook, saying he’s in “very, very active” talks about what to do with the company’s growing cash pile, did little to assuage investors seeking more clarity on his plans.
Apple shares slipped after Cook ended the company’s annual shareholder meeting without giving any additional insight on what he’ll do with $137.1 billion in cash and investments. Shareholders re-elected the board, approved Ernst & Young LLP as accountant and passed a non-binding measure on executive pay.