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Updated from 1:59 p.m. EST to provide executive comments from shareholder meeting.
(AAPL - Get Report)CEO Tim Cook did not announce a dividend at this time, but said the company is still deciding what do with its cash, adding, "[W]e've been thinking about cash very deeply...".
hot topics swirling around Apple include concerns about working conditions in the company's supply chain, and, as ever, intense interest in the company's product plans.
Cook declined to speak about an Apple-branded television set when a shareholder asked. He also said that Apple is not interested in making money from content, and it does not need to own a label or studio. "We haven't had to own a music label to accomplish" what it did with iTunes. "We get profit from selling devices."
Cook did mention
Facebook, when asked by a shareholder whether it was a friend or foe. Cook responded by saying, "Facebook: friend. We do a lot with them, our users use Facebook an enormous amount." He went on to say, "I've always thought that the two companies could do more together."
Tim Cook, the Apple CEO, makes his first appearance at the annual shareholder meeting since taking over from his iconic predecessor, Steve Jobs.
Apple shares, which have risen more than 27% this year, were up 0.33% to $514.73 on Thursday.
A recap of our live blog discussion during the meeting follows.
CUPERTINO, Calif. (
Apple(APPL) hosts its annual shareholder meeting on Thursday at a time when investors are casting a spotlight on the company's cash strategy.
TheStreet is not attending Apple's shareholder meeting, we are aggregating independent commentary on the event from other media and investors. This commentary does not reflect
With a vast cash hoard of almost $100 billion at its disposal, there has recently been clamor for the iPhone maker to start paying a
dividend again. Apple stopped paying a dividend in 1995.
Apple holds its annual shareholder meeting on Thursday.