Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Shareholders React to Apple’s Annual Meeting

Details

  • Description

    FBN’s Adam Shapiro on Apple shareholders’ concerns.

  • Duration 2:53
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Apple is about to turn positive or at least go flat after being down much of the session nothing -- the few worms and an apple to get people running away elect a 30%.

Drop in stock over five months but here's an -- picture.

It's it's been very very dramatic up down all around -- You know you've got an outspoken hedge fund bigwigs making demands of today's CEO Tim Cook face it all down -- holding Apple's annual shareholder meeting he must just -- -- these things whatever he's saying to shareholders though.

It's not religious in the stock as you see while shares are flat just about flatter down about twelve pennies at the moment CEO Tim Cook tried to reassure shareholders the profits and revenue.

Are really coming along that there on their way but cook failed to provide investors with any clarity as to what apple would do with -- pile of cash.

No word on dividends additional buybacks -- stock split.

But let's go here from Adam Shapiro has been outside Apple's headquarters in Cupertino California all -- what -- is hearing from people as they walked in and out.

-- -- with the latest.

Well there -- two things you hear from the shareholders first they like the fact that apple defeated David Einhorn in that lawsuit Tim Cook actually.

I addressed at least this round they've defeated Einhorn.

-- Tim -- address that he used -- of word that starts with asked to describe that lawsuit that we're being silly.

And he then went on to -- talk about Samsung in the competition from cents -- saying that Apple's not interest -- in making the most but.

Making the best but -- shareholders well they they're cheering cook and the is the defeat of Einhorn they want more money in their pockets from the dividend.

And -- get any guidance on that as you said so we spoke to some of the shareholders they were coming out.

And one of them well here's what she told me about put more money in my pocket.

More cash expenditures.

More dividends I'm very disappointed in the lineup of the board I'm sure they have a position paper and working about diversity.

Including -- women minorities that really what's the excuse and 2013.

And lots of qualified people out there.

Collegial heard this echoed throughout Biden several different shareholders protect -- 137 billion that apple sits on.

But you can protected by may be returning more to us right now the dividend what is it two dollars 65 cents a quarter.

So they want more of the money returned to them no guidance on whether that was going to happen one thing that's a definite.

Cook said that they will get the opportunity to vote on that issue regarding preferred shares.

Essentially giving the shareholders the final say over the board of directors he promise that's coming down the -- back to you.

You think any of these people would have had the courage to get and Steve Jobs as they -- -- no way.

To -- no absolutely not.

All right well -- -- one could argue that Tim Cook is a little more open to what shareholders really want to there are two sides to every -- -- their thank you very much good to see you out of if you.

Load More