This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Apple's Jobs Talks China, Cash

CUPERTINO, Calif. ( TheStreet) -- At its annual shareholders' meeting on Thursday, Apple (AAPL) refused to discuss when the iPhone will land at Verizon (VZ), but it did announce plans to open 25 Apple stores in China.

The move would be a shrewd one for the tech giant, which is keen to tap into China's economic and technological explosion.

Apple

Revenue from Apple's stores grew 13% year-over-year in its recent first-quarter results, and the firm opened 10 new stores, including one on New York City's Upper West Side and another at the Louvre in Paris. As of December, the company was operating just under 280 stores, 52 of which are located outside the U.S.

Apple CEO Steve Jobs said that the tech bellwether will open its Chinese stores over the next two years, according to Reuters, which said that Jobs offered few details on the iPad.

Prior to the event at Apple's headquarters, there had been talk that the iPad and iPhone would be high on the agenda.

Apple's exclusive iPhone deal with AT&T (T) is said to end this year, and there have been rumblings that Verizon is in line to snap it up. Earlier this week, however, multiple sources said that the iPhone may be staying exclusively at AT&T for longer than expected.

Despite intense speculation about the iPhone's future, Apple refused to comment on a question about its exclusivity deal, according to CNNMoney.com.

The consumer tech giant was somewhat more forthcoming when questioned about its massive $40 billion cash haul.

Jobs said that the money provides enables Apple to "think big" in terms of its product development, says Reuters, suggesting that the company has no immediate plans to offer a share buyback or pay a dividend.

"We want to take risks, technical risks," he said, according to CNBC."We want to know the ground is still beneath us when we jump."

Apple, however, largely avoided discussing its iPad technology.

Unveiled in a blaze of publicity last month, opinions are divided on the eagerly-anticipated iPad, with critics questioning where exactly the device will fit in the technology landscape.

Apple, as well as the many zealots who are fans of its technology, have high hopes for it. With high-definition video and touchscreen capabilities, the iPad has been lauded, as a high-end e-reader (among other things), and Apple appears keen to usurp the likes of Comcast (CMCSA) and Time Warner Cable (TWX) as a media hub.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,172.68 -107.06 -0.62%
S&P 500 1,994.29 -16.11 -0.80%
NASDAQ 4,527.6890 -52.10 -1.14%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs