Apple shares closed in the green in the US Tuesday session, as the tech giant’s CEO Tim Cook told shareholders he’s ‘not a fan’ of special dividends at the company’s AGM. The admission comes a few weeks after Apple said it had plans to reduce its cash pile to ‘approximately’ zero.
Apple shares ended 1% lower at $164.34, in the US session, Tuesday. Currently, after-hours activity has the Apple stock a little lower.
Apple’s AGM was held at Apple Park, Cupertino. A shareholder asked Cook if the tech firm was considering doubling its dividend under new US tax laws allowing corporations to repatriate overseas profits and benefit from a lower rate.
“Special dividends, I‘m not really a fan of,” Cook said in answer to the question. “But in terms of annual increases in the dividend, it is something that this board and management are committed to doing.”
Cook also told shareholders at the meeting that Apple could contribute to the US healthcare sector.
As well as existing software on iPhones to access medical information, the global tech innovator also has a B2B healthcare strategy. Apple’s CEO told shareholders he considers the company to be well-placed in the sector.
Apple to gain market share?
While Cook was sharing key details with Apple investors and discussing future plans for the business, a report from TrendForce suggests Apple could increase its smartphone market share in 2018.
It says that in a still challenging backdrop where demand will remain subdued amid fewer upgrades, Apple is set to retain the number 2 spot behind Samsung. However, Apple could also increase its smartphone market share by some 6% during 2018.
“Apple is set to launch three new flagship models in 3Q18 and will expand the adoption of Face ID and all-screen technology in these new iPhones, along with upgrading their existing functions and increasing the memory content as well,” the TrendForce report states.