All eyes will be on Apple (NASDAQ:
) at 9:00 a.m. PST (12:00 p.m. EST) when the company meets with
shareholders. Unlike a traditional Apple event, the company is
not expected to announce any new products. While there have been
rumors of a watch
and other new products (along with a few
that the info was leaked on purpose), Apple does not typically
use its shareholder meetings to unveil new products.
This is no longer the empire that Steve Jobs built, however.
Apple has slowly transformed into the Tim Cook Corporation, a
successful establishment that makes great products but may head
in a different direction.
Apple does not have any other upcoming events that it is
publicly speaking about, which could provide the firm with a
reason to mention -- or merely tease -- a future product. While
the company was once known for its secrecy, today's Apple (the
one that sold
47.8 million iPhones
last quarter) seems to be much more interested in hyping future
A new product could also steer investors away from the
controversy involving hedge fund manager David Einhorn, who sued
Apple earlier this month. Einhorn, who runs Greenlight Capital,
asked the a New York City court to stop the Mac maker from
collecting shareholder votes for a proposal that would limit the
company's ability to issue preferred stock.
The hedge fund manager
won his motion
, prompting a U.S. judge to block the vote.
AllThingsD's John Paczkowski
the event to be a "snoozer" -- at least until the concluding
Q&A session. "There we might see a bit of action," he
Meanwhile, Forbes' Connie Guglielmo said that she thinks the
focus will be on
Apple's stockpiles of cash
, which currently stands at $137.1 billion.
In January, Benzinga's Matthew Kanterman outlined the five
tech companies that Apple
can afford to acquire
. They include Visa (NYSE:
), which is valued at $106 billion, and Cisco (NASDAQ:
), which is valued at $112 billion.
Both investors and consumers want Apple to put that money to
good use, but their views vary on how it should be spent.
Investors would love to see greater dividends; consumers would
prefer that the firm invests in new product development.
Apple has enough money to do both, but while it has been
receptive to investors' desires (announcing both a dividend and a
major buyback last year), the company has not openly discussed
its R&D plans. This differs greatly from the strategies
employed by Google (NASDAQ:
) and Microsoft (NASDAQ:
), both of which frequently discuss their
future product releases
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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