Steve Jobs says Apple must 'think big' with $40 billion in cash
Apple co-founder Steve Jobs told investors at Thursday's shareholder meeting that his company's massive war chest of $40 billion gives it security and flexibility, but while a stock buy-back won't drive up AAPL shares, making big and bold moves will.
The CEO did not, however, indicate how Apple intends to use its stockpile of cash and securities. According to Reuters, Jobs told investors that he believed putting the money into a dividend or share buyback would not influence the price of AAPL stock. The meeting was held Thursday at Apple's corporate campus in Cupertino, Calif.
Instead, Jobs reportedly said Apple must "think big" in order to move its stock price higher. In addition, Bloomberg reported that Jobs said Apple is holding on to its cash for "big, bold" risks. Apple revealed in its first quarter 2010 investor conference call that it had accrued $39.8 billion in cash by the end of the December quarter.
