FOXNews.com: Apple to make announcement on $97B cash stash

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Apple to make announcement on $97B cash stash Mar 19th 2012, 11:45 CUPERTINO, Calif. –  Apple will make an announcement Monday on plans for its massive cash balance, estimated to be around $97 billion, from sales of its hugely successful gadgets like the iPad and iPhone. In a statement, the company said it would hold a special call at 9:00 a.m. ET "to announce the outcome of the company's discussions concerning its cash balance," MarketWatch reported. Apple's balance of cash, short-term equivalents and long-term investments was nearing the $100 billion mark as of Dec. 31, and investors have been expecting the company to consider a dividend or share buyback program. The call will be hosted by CEO Tim Cook and CFO Peter Oppenheimer. The company said it would "not be providing an update on the current quarter nor will any topics be discussed other than cash" during the call Monday. "The most likely option is an acquisition or large investment in technology of some sort." - The Next Web blog's Matthew Panzarino "What Apple will do with its cash has long been a topic for discussion, with analysts and investment specialists crying for a dividend," The Next Web blog's Matthew Panzarino told AFP. "But the most likely option is an acquisition or large investment in technology of some sort. Perhaps Apple will acquire Twitter, the social network that it has so tightly integrated into its iOS and OS X operating systems." In its most recent quarter, Apple reported a record profit $13.06 billion while revenue soared to an all-time high of $46.33 billion. Apple said it sold 37.04 million iPhones in the quarter that ended on December 31, up 128 percent from a year ago, and 15.43 million iPads, a 111 percent increase. The California-based gadget-maker sold 5.2 million Macintosh computers in the quarter, up 26 percent, and 15.4 million iPods, a 21 percent decline from a year ago. Its new iPad went on sale Friday with Apple fans lining up from Sydney to San Francisco to snap up the latest model of the hot-selling tablet computer, but without the huge queues for some other Apple devices.

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