Apple CEO Tim Cook said the company is "seriously considering" returning cash to shareholders Wednesday at the company's annual shareholder in Cupertino, Ca.
The iPhone maker has recently come under pressure to distribute some of its $137 billion in excess cash to investors, but the company has not yet revealed any specific details about its cash strategy.
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Activist shareholder David Einhorn has publicly pressed Apple to figure out a way to increase shareholder value. He even filed a lawsuit against Apple as part of his larger scheme to get the company to release some of its cash load.
While Cook said that he still thinks Einhorn's lawsuit is silly, he added that the company is taking the issue of boosting shareholder value seriously.
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"I strongly believe it was a silly sideshow, regardless of how the judge ruled .... I don't think the issue of returning cash to shareholders is silly — we're seriously considering it."