Tim Cook isn’t worried about the stock price. They will simply by back enough stock to keep it where he wants to keep it. They have tons of cash. They can do that.
In fact, they’ll use their foreign cash to do it, since they can’t bring that cash back into the US without paying a massive tax on it.
In fact, they’ll use their foreign cash to do it, since they can’t bring that cash back into the US without paying a massive tax on it.
I question whether they can buy AAPL stock (at least enough of it) overseas, with foreign money without paying the punitive US tax. If so, they should have been doing it in a big way, long since.But I do wonder why Cook talked about business fundamentals instead of just announcing a stock buyback of up to x thousand shares at any price below $100 . . .
Seems like that would introduce some reality into the market for AAPL rather quickly.
Would have been a good idea for the Republicans to have taken the occasion to push for elimination of the punitive double taxation of repatriated overseas corporate income for the purpose of such buyback . . .
(Where’s Donald Trump when we needed someone to call that government policy by its name - “Stupid"???)