Apple Recap: Content Shareholders, Long-Term Focus, Lost Appeal
It was big day for Apple (NASDAQ:AAPL), with its annual shareholders meeting set to take place at the company’s headquarters. While most of the talk around the company centered on the developments at the meeting, the stock ended just under 1 percent down at $444.57. Here’s a cheat sheet to the top stories around it on the day:
The continued sell-off in Apple over the last few months may tell a different story, but the company’s investors appeared amenable to most management decisions during its annual shareholders meeting on Wednesday. While the company did not announce any specific decisions related to capital allocation and other itchy issues of the last few days, chief executive did Tim Cook did repeat his assertion that the board was in the process of announcing a change. Apparently that was enough for shareholders.
“I strongly believe it was a silly sideshow, regardless of how the judge ruled,” Cook said, referring to the court case the company lost to Greenlight Capital regarding a vote on preferred stock. Apple was forced to take the proposal off its meeting proxy. “I don’t think the issue of returning cash to shareholders is silly – we’re seriously considering it,” Cook added… (Read more)