Apple ‘rolling the dice’ on its upcoming products

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Cook
Tim Cook said today he’s “never been more optimistic” about the direction Apple is going.
Photo: Jim Merithew/Cult of Mac

Apple CEO Tim Cook is very upbeat about where his company is going. He told investors today that upcoming Apple products will “blow you away.”

Cook also indicated that Apple’s magic pipeline isn’t just brining more of the same. Cupertino is branching out.

Shareholders easily vote down attempt to make Apple more conservative

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steve jobs theater
A proposal made to Apple shareholders today in the Steve Jobs Theater would require board members reveal their “ideological perspective.”
Photo: Apple

A handful of Apple shareholders argued today that the company’s board of directors needs more conservative voices.

CEO Tim Cook responded that Apple has policies, not political beliefs. And a vote on the conservative proposal found very little support.

Apple shares gain $55 billion after glowing quarterly report

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money
Apple share price increased more than a dollar or two following a very strong quarterly earnings report.
Photo: Ste Smith/Cult of Mac

Investors rushed to buy Apple stock today, pushing the share price up almost 6 percent. That added a whopping $55 billion to the company’s market capitalization.

Apple is still a bit short of the much-hyped $1 trillion valuation, but moved noticeably closer today.

Apple Speaks Out: We Might Return Cash To Shareholders

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Screen Shot 2013-02-07 at 4.14.59 PM

Apple has been treading lightly with Wall Street in recent months. The company’s stock has continued to nosedive despite reporting record earnings for the last quarter. Many investors have been urging Apple to do something with its $137 billion cash hoard. Shareholders want a return on their investments.

Greenlight Capital, a prominent and influential Apple investor, has called Apple out for its proposal to eliminate preferred stock. Apple started paying a quarterly dividend of $2.65 per share last year, but investors want something more substantial. Greenlight Capital’s David Einhorn believes that “preferred shares would be a way to reward investors without putting the company at risk.”

Apple has officially responded with a press release:

Apple Shareholders Vote Down Calls To Reveal Steve Jobs Succession Plan

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Steve Jobs at Macworld in 2007. CC-licensed photo by Noboyuki Hayashi.
Steve Jobs at Macworld in 2007. CC-licensed photo

Apple shareholders have voted down a proposal that would have required Apple to disclose Steve Jobs’ succession plan.

The vote came at Apple’s annual meeting today. The proposal was brought by the Laborers’ International Union. Apple’s board also opposed.

Apple has said in the past that it has executive succession plan, though it hasn’t revealed what that plan is.

Steve Jobs wasn’t present at today’s meeting. He continues his indefinite medical leave. This is only the second time in a decade he has missed the annual event.

All Things D: Apple Shareholders Reject Proposal to Disclose Succession Plan