Speaking at the company’s annual meeting today, Apple (AAPL) CEO Steve Jobs today said the company has no current plans to buyback shares to start paying a dividend, according to Reuters. Some investors had hoped the company might buy back some shares in response to the sharp sell off in its stock this year. As of the end of the December quarter, Apple had more than $18 billion in cash and short-term investments.
Jobs also confirmed the company’s target of 10 million iPhones in calendar 2008.
COO Tim Cook said the company will begin shipping the iPhone in Asia this year, but did not say which countries. He said Apple will sell the iPhone in China and India “one day,” but gave no specific timetable.
Apple today is up 39 cents at $122.12.
[Source: http://blogs.barrons.com/techtraderdaily/2008/03/04/apple-no-div-or-buyback-planned-confirms-10m-08-iphone-target-will-sell-phone-in-china-india-sone-day/?mod=googlenews_barrons]
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