Apple CEO: cash discussions intensifying


  • Business Premium
  • Wednesday, 15 Feb 2012

SAN FRANCISCO (Reuters) - Apple Inc is in very active discussions at the board level about what to do with its steadily growing hoard of cash and securities, Chief Executive Tim Cook said on Tuesday, responding to calls for the world's most valuable electronics company to put its massive cash reserves to work.

Cook, in one of his rare appearances before investors, also talked about a "jaw-dropping" opportunity in smartphones. He also said the iPad tablet trajectory was "off the charts," adding that he foresaw tablets surpassing the personal computer market in unit sales eventually - eroding Microsoft Corp's Windows dominance.

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