In a research note Wednesday, Evercore ISI analyst Amit Daryanani took a look at the company’s capital-allocation strategy. While most of the focus will be on the company’s supply-chain and consumer-demand issues connected with the Covid-19 pandemic, Apple’s plans for its cash pile are no small matter for long-term investors.
Investors Might Find Out Soon. When Apple reports earnings on April 30, investors will be looking for an update on the company’s next steps in its plan to shift to a zero net cash balance sheet. In a research note Wednesday, Evercore ISI analyst Amit Daryanani took a look at the company’s capital-allocation strategy.
Daryanani notes that, since announcing its intention to reduce its cash balance two years ago, Apple has returned 135% of free cash flow via a combination of dividends and stock repurchases, reducing net cash by about $50 billion in the process.