The Cupertino, Calif.-based company made a variety of headlines this week, ranging from CEO Tim Cook keynoting an investment bank conference to the release of a new operating system, and the tech giant passing $500 per share for the first time.
CEO Tim Cook sat down with Goldman Sachs analyst Bill Shope earlier this week at a technology conference in San Francisco, and discussed a wide array of topics, ranging from supply chain issues to the company's cash hoard. He also seemed to hint at new products.
Cook said Apple is taking very seriously concerns that have been raised about labor practices in its supply chain."The first thing that I want everyone to know - Apple takes working conditions very, very seriously," explained the Apple chief. "We care about every worker." Cook also touched on the company's cash hoard, approaching $100 billion as of the end of the fiscal first quarter. He seemed to hint that something is in the works, saying Apple has "more cash than we need to run the business on a daily basis." The CEO, however, stopped short of announcing a dividend or buyback, asking that shareholders be patient on this issue. Cook also talked about the Apple TV set-top box amidst mounting speculation that the company will announce a television set later this year. "For those of us that use it, we have always thought that there's something there and if we keep following our intuition and pull that string, it could be larger," he said, referring to the existing Apple TV. "We need something that could go more main market."
Apple announced its new operating system, dubbed Mountain Lion, this week. The software will have a variety of new features incorporating parts of the company's mobile operating system, iOS, into the OS for Mac computers. Apple dropped the name Mac from its operating system, potentially paving the way for OS X Mountain Lion and iOS to become one in the same. Mountain Lion will get features such as Message, Contacts, Notes, Game Center, and offer integration with Twitter and Apple's iCloud service. Apple shares crossed a milestone this week, moving past the $500 mark for the first time as investor optimism continues to increase. The iPhone maker was also named the top American brand in a reputation study. Apple shares closed the week up 1.7%, gaining $8.70 to close at $502.12.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
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.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV