Apple's (AAPL) Tim Cook to Kick Off Goldman Sachs Event; All Eyes on Cash Hoard
Mr. Cook will be speaking at 7:15AM PM PT instead of the originally scheduled time of 1:15PM PT.
With recent controversy about Apple's $137 billion cash hoard, investors will be paying close attention to Mr. Cooks comments.
Activist investor David Einhorn of Greenlight Capital wants Apple to unlock shareholder value through the issuance of a preferred stock. Meanwhile, in an effort to improve corporate governance, Apple is currently looking for shareholder approval to eliminate its ability to issue preferred stock. Apple said it is committed to returning capital to shareholders and will "thoroughly evaluate Greenlight Capital’s current proposal to issue some form of preferred stock."
Shares of Apple are up 1.1 percent to $480.19.