FINANCIAL TIMES: Apple tried to silence grumbling investors by promising to return an extra $55bn over three years, even as it warned of an extended gap between new product launches.
The scale of the cash return, on top of $45bn already promised over three years, is matched only by ExxonMobil in corporate America, and is designed to appease investors frustrated by its tumbling share price.
The move is a further break from co-founder Steve Jobs’ preferred policy of holding on to as much capital as possible. It comes as chief executive Tim Cook, under pressure from activist investors as iPhone growth slows, tries to assure shareholders and customers that Apple has lost none of its magic touch… (more)
