Investor Daniel Hung, who writes the Curious Investor blog, also voiced his concern about the "psychological" effect of a large Apple dividend.
"Apple hasn't been imprudent with its cash and hasn't shown a tendency to make irrational acquisitions," he wrote, in an email to TheStreet. "To some degree, I'm willing to let them hold onto the cash knowing that its sentimental value attracts investors and supports the current share price."
It seems unlikely that Apple's strategy will change anytime soon. The tech giant did not respond to questions from TheStreet asking whether a dividend or share buyback is in the company's future. An Apple spokeswoman, however, referred to TheStreet to Jobs' comments at this year's annual investor meeting.
One thing is for sure, though. Apple's stock has skyrocketed, rising more than 1000% in the past 10 years, and it seems that many investors value share price over dividend payments.
Who Owns Apple?