Apple to spend $45 billion, announces share buyback and dividend initiatives


Apple announced today how they plan to spend approximately $100 billion that is has in the bank. They announced two initiatives including a $10 billion share buyback for fiscal 2013 along with a per-share dividend of $2.65 to start in fiscal Q4. Apple expects to spend $45 billion on the programs. CEO Tim cook on spending its cash reserves:

We have used some of our cash to make great investments in our business through increased research and development, acquisitions, new retail store openings, strategic prepayments and capital expenditures in our supply chain, and building out our infrastructure. You'll see more of all of these in the future. Even with these investments, we can maintain a war chest for strategic opportunities and have plenty of cash to run our business. So we are going to initiate a dividend and share repurchase program.
Apple's popularity, along with its banking account, continue to grow at an unimaginable pace. Apple made over $13 billion in profit in the last quarter alone. Profits like that seem unreal, especially in this economy. Apple continues to pump out products that consumers are lining up to buy. As long as this continues, their bank account should be back up to $100 billion in no time. 
Source: The Verge

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