Apple to reveal plans for $100 billion bank reserves

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Apple will host an open conference call this afternoon to announce what they have planned for their massive $100 billion cash reserves sitting in the bank, following pressure from a number of investors.

“Tim Cook, Apple’s CEO, and Peter Oppenheimer, Apple’s CFO, will host a conference call to announce the outcome of the Company’s discussions concerning its cash balance,” reads a company statement sent out on Sunday 18 March.

The sum equates to roughly £60 billion, and allows the company the freedom to research and develop new products without having to chase investors. Despite the reserves, Apple still attract significant investment every year, with shares currently sitting at $600.

Plenty of rumours are churning concerning Apple’s plans, with longs shots such as a possible buyout of Twitter and a share dividend for shareholders being bandied around.

One thing is certain; there will be now new product news, or sales figures concerning the recent launch of the new iPad 3:

“Apple will not be providing an update on the current quarter nor will any topics be discussed other than cash,” reads the statement.

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Gerald Lynch