Apple is scheduled to announce its plans for its $98 billion cash on hand on Monday.
A statement released by the tech giant stated that CEO Tim Cook and CFO Peter Oppenheimer would be holding a conference call at 6:00 on Monday morning to announce the company’s plans for its cash holdings.
Some reports released last year indicated that Apple has more available cash than the entire US government. Over the last decade, the company has grown from just another crashing tech company to a massive market leader. With a collection of hot-selling devices such as the iPad and the iPhone, Apple has accumulated enough cash over the years to pay for California’s expenditures in one year.
Apple also has never issued out dividends for its common stockholders since 1995. Since the explosive growth of Apple took place, investors have been begging for the California-based company to issue out dividends. Some have also speculated that Apple may be planning for the acquisition of several tech companies.
In the latest quarter, Apple reported approximately $13 billion in profits as revenue rose to $46 billion. Investors all over the world can’t wait any longer for the announcement of the massive money-making machine that is Apple.