Cupertino, Calif.-Apple has a good problem, excess cash. Early last year, Apple's cash balance had built to a point beyond what they needed to run their business, so they announced a plan to return $45 billion to shareholders over three years. As of this week Apple has executed $10 billion of that plan.
It's a super fortunate position of continuing to generate large amounts of cash, including $23 billion in cash flow from operations in the last quarter alone. Apple is the richest company on the planet.
Apple's management team and Board of Directors have been in active discussions about returning additional cash to shareholders. Apple's BOD has evaluated Greenlight Capital's current proposal to issue some form of preferred stock.
Apple's BOD continues to seek the best way to get capital gain back into the hands of shareholders. Yes, it's a good problem to have.
