NEW YORK?? Apple Inc said it would host a conference call on Monday morning to discuss the outcome of discussions about its cash balance.
Apple has $98 billion in cash and securities, a hoard that has been drawing calls by investors to put the massive reserves to work.
Wall Street has increasingly bet that Apple will this year return cash to shareholders, taking their cue from Chief Executive Tim Cook's comments about "active discussions" at the top levels about the matter.
Analysts say it could take the form of a one-time dividend or share buyback and would address a longstanding desire on the part of investors, while potentially opening the stock to a new class of investors who seek a dividend yield.
Mounting anticipation over a buyback, along with hopes the newest iPad will keep sales momentum strong, helped propel Apple's stock to a record high this month past $600 a share.
The call, to be held at 9 a.m. Eastern on Monday, will not provide an update on the current quarter nor will it touch upon any topics other than cash, Apple said in a statement on Sunday.
Apple declined to comment further on the press advisory.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Source: http://www.msnbc.msn.com/id/46777537/ns/business-us_business/
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