Revealed: Here's Where Apple's Cash Is Headed
Feb 15th 2013 7:23PM
Updated Feb 15th 2013 10:00PM
Think you take retail therapy seriously? Think again. Speaking at a Goldman Sachs investor conference, Tim Cook said Apple's retail stores are like "Prozac" for when he's feeling down, The Wall Street Journal reports.
Cook made the comments in a speech that offered a vigorous defense of Apple's capital allocation practices. Activist investor David Einhorn has targeted the firm for failing to distribute more of its $137 billion treasure trove to shareholders.
What does retail have to do with Einhorn's griping? Nothing directly, but Cook said that Apple plans to invest heavily in its retail stores by upgrading 20 existing locations, and adding 30 more in various spots around the world. In the video below, Tim Beyers of Motley Fool Rule Breakers and Motley Fool Supernova applauds the idea, and suggests that Apple get even more aggressive with its retail operations. Please watch, and then be sure to leave a comment to let us know what you think.
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The article Revealed: Here's Where Apple's Cash Is Headed originally appeared on Fool.com.Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team and the Motley Fool Supernova Odyssey I mission. He owned shares of Apple at the time of publication. He also had a long-term call options position in Netflix. Check out Tim's web home and portfolio holdings or connect with him on Google+, Tumblr, or Twitter, where he goes by @milehighfool. You can also get his insights delivered directly to your RSS reader. The Motley Fool owns shares of Apple. Motley Fool newsletter services have recommended buying shares of Apple and Goldman Sachs Group. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.
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