Apple plans to perch on its $25 billion nest egg until it’s ready to make “big, bold” risks, Apple chief executive Steve Jobs said at the company’s shareholder meeting, according to Bloomberg.
Apple shareholders re-approved the board of directors and Apple’s proposed compensation plan.
“When you take risks, it’s like jumping in the
air. When they don’t work out, it’s nice to know the ground is always
there,” the chief executive said, according to Reuters.
Apple recently announced the iPad, and reported record revenues for the fourth quarter, buoyed by a resurgence in consumer spending. On Thursday, the company reported selling its 10 billionth song via iTunes. Radio Shack, meanwhile, reported that it was preparing a widespread rollout of the iPhone across its stores.
Apple chief operating officer Tim Cook recently said that Apple has considered acquiring or merging with another large company, but that none have met its strategic or financial requirements.
““We don’t let our money burn a hole in our
pocket,” Cook said. And so unless we find something that really makes sense for
Apple shareholders, we’re not going to do it … If we find a large one,
we won’t be shy about it, but we won’t do it to do it.”
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