Apple CEO Steve Jobs told analysts that his company is saving cash for "strategic takeover opportunities". The firm currently has about $25 billion in cash on its balance sheet.
Apple has around $25 billion in cash at the moment, but it does not have plans to pay significant dividends or purchase shares back just yet. The company is looking forward a massive strategic acquisition target so that to increase value and capabilities of the company.
"We strongly believe that one or more very strategic opportunities may come along that we are in a unique position to take advantage of because of our strong cash position. I think we have demonstrated a really strong track record of being very disciplined with the use of our cash. We do not let it burn a hole in our pocket, we do not allow it to motivate us to do stupid acquisitions," said Steve Jobs, chief executive officer of Apple, during a conference call with financial analysts.