What Apple Could Do With Cash: Wagner
Apple faces the daunting task of following its past success and could boost countless start-up companies with its cash hoard, 2929 Entertainment CEO Todd Wagner said Monday on CNBC.
"I think Apple is an example of the great American success story," he said. "What they face now, unfortunately, is the law of big numbers. They're at a point now where singles and doubles just don't cut it. And that is a very daunting task, but they're a bunch of very smart people and a well-positioned company."
On "Fast Money," Wagner tackled the issue of what Apple should do with the $137 billion in cash on its balance sheet.
"That is the most interesting question, really, of the moment," he said.
"You think about what they could do to American entrepreneurs, how many start-ups they could fund, where those monies could go," Wagner added.
"Obviously, they could do it in the form of a dividend. But there's so many possibilities with where that money could go, with all the people there and what could happen with that."
Trader disclosure: On March 25, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Steve Weiss is long C; Steve Weiss is short BHP; Steve Weiss is short RIO; Steve Weiss is short VALE.