Larry Haverty of Gamco Investors says Apple’s board of directors can be sued for sitting on that giant pile of profits. What does Apple need? Buyback? Dividend? How about a $100 iPhone?
I gotta think that the Board is going to do this, or someone is going to sue them pretty quickly. Someone is going to sue them for excessive accumulation of cash.
Yes, let’s sue the hand that feeds us. Or, is there something else?
They’re going to have to come up with a low-cost phone because the market in China is in the neighborhood of $100-$200 per smartphone and it’s a mind-boggling market… The country loves these products, they love the Apple products, but the mass market can’t afford $600-$700 products.
In other news, Cadillac needs a $10,000 car because that’s what Kia buyers want.